The Energy - The Oil Indicator

In a day when global markets imploded on weight of all the problems in the world, is it possible that the fact that the November Crude oil was able to close above $80 a barrel that the global rout may be nearing an end? After getting battered and beating the global markets are trying to come back. While still woozy where oil closes to end the week may be a sign of hope or perhaps doom to the rest of markets around the globe.

You see in times of fear and asset loathing oil acts a pure play because no matter how bad things might feel there will be some degree of demand. Oil prices that have been pumped up by quantitative easing and now selling off on demand destruction fears will try to find equilibrium in the market turmoil today. We are already seeing signs that the break in price is inspiring some better demand now that the froth has worn off. Dow Jones Newswires says that "sentiment in the Asian crude-oil market will likely stay bullish, with spot premiums supported by firm product cracks as trading in November cargoes of Middle East supplies begins to wind down. Most refiners in Asia intend to ramp up production to meet winter heating demand in the fourth quarter. A sharp fall in crude prices boosted product cracks over the past week, especially for fuel oil, which may increase demand for Middle East medium and heavy sour grades. As a result, premiums of the few unsold November cargoes of medium and heavy Middle East crudes are expected to rise or at least hold steady, while demand for lighter grades may fall due to marginally weaker naphtha cracks. "

yet is the stock market cracks then watch out My Take is that if oil closes above $80 today we will have a short term bottom on stocks! If not get ready for Black Monday! We had an awesome week! Did You? Make sure you get a trial to my daily trade levels while you still can! Just call me at 800-935-6487 or email me at Also make sure you are getting "The Power to Prosper" by tuning into the Fox Business Network



Phil Flynn

806 W. Washington Blvd.

Chicago, IL 60634

312 563-8344 / 800 935 6487

There is a substantial risk of loss in trading futures and options.Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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