Energy Prospectus

Wanted to use the word "carnage" but I thought I would try a softer word.

Vtle down 7.5 %. Gasser's down hard. Front month moving down. Good thing the Cowboys beat the Pats!

To add insult to injury, the QQQ index is up widening the gap between hi-tech and energy valuations.
The Dow is down 122 points, .37 %

Carnage is the proper word. With oil near $89 and well above where it has been in the past quarter, this makes no sense.

Hold your water until after the OPEC meeting on Wednesday.

It is just a minor hiccup.
> Oil, gas and NGL prices were higher in Q3 than what I used in all of my forecasts.
> Demand for oil-based products still exceeds supply and petroleum inventories will keep falling.
> Saudi Arabia controls the price of oil and they want higher oil prices.

Oil did get a bit ahead of itself. I sure did not expect WTI to move over $90 as quickly as it did, especially with the strength of the U.S. dollar.