Can weather/geopolitics save bull?
You’ve lost that bullish feeling, lost that bullish feeling. You’ve lost that bullish feeling and it’s gone, gone, gone! Oil is trying to find that bullish passion that it lost sometime ago. Yet even after the big oil breakdown last week, the market failed to find the inspiration it needed to continue its assault on the downside. Oh sure, the bulls were bloodied last week as the PIIGS (Portugal, Italy, Ireland, Greece and Spain) started to fall apart and they are hesitant to step back into a market that has definably lost any semblance of what you would consider a bull market. Yet with a winter storm barring down on the Northeast and the heartland of the heating belt and the fact that the euro seemed to stabilize, oil tried to make a bit of a comeback. Of course a little dash of geopolitical tension never hurts the oil market. It may not help it but it sure can’t hurt. Iran is flaunting that fact that it is enriching uranium, sending a strong message that they do not care what the rest
