re.amex, page-22

Just got home

Oil seems to have broken support trading around $92

I welcome the economic benefits of lower oil, yet you have to consider the rapid price fall is starting to effect the likes of SSN. It was $3.40 a couple of weeks ago and it's about $2.50 atm. The correlation is tenuous because SSN was about $4 well oil was in the mid 90's.

However, SSN is in a pretty steep down trend atm which may only be broken by additional positve well results.

No doubt demand for oil was well down in the US when oil was around $110 so $90 is a better balance.

After a very strong open US markets are doing the same midday plunge as yesterday.

It's 3:00am so good morning