Today was a golden opportunity to sell off. One would think that, with Katrina going off in a different direction, the market would, too. But it didn't.
More Quotes from Phil Flynn:
This year the squirrel isn't burying any nuts and we're going into the winter on fumes. Unless something dramatic happens, we're looking at a very expensive winter.Phil Flynn
We still have had a pretty good correction from the peak. It shows that there's a lot of confidence in the oil industry and the economy.
Phil Flynn
Even though the forecasts are turning colder, traders are already thinking about spring. The market is saying we think the winter is pretty much over given the supplies that we have.
Phil Flynn
Just as every media outlet is talking about 4-a-gallon gasoline and the politicians are talking investigations and taxes, the futures market is signaling that the worst may be over.
Phil Flynn
Nothing like a little psychological warfare to get the blood moving.
Phil Flynn
We seemed to see some flight-to-quality buying in the bonds and gold, which seems to indicate traders' uneasiness with the (Iran) situation.
Phil Flynn
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