A neck-snapping last few days, to be sure. The Recapitulator received many calls and emails laced with variants of the "I told you so" argument with regards to the prospects of the U.S. economy, stocks, and the dollar.
Some comments were well-deserved in the midst of severe autocorrelation in oil increases (i.e., big up moves begat more big upwards moves in oil). And then there was last Friday for stocks.
I am no-where near surrender.
Autocorrelation amongst any asset class reaches a fevered pitch...then prices collapse. Oil is no different and the fundamental issues are, well...who knows? Weaponization of oil obvious, but Russia, the Saudis, and even Chavez are rattling their sabres less. The summit on 6/22 will surely have much jaw-wagging addressing this.
And of course, the dollar, which everyone disparages to no end, hits a 3-month high. Again, all eyes on Ireland.
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