Market Watch with Tom Waitt

July_18th_2012.mp3 Oil Spark    In the last 20 days crude oil has jumped 16% and could signify an economic turn while Global economic forecasts are in disarray.   Crude Oil (Click For Larger Picture) Crude oil is volatile in the last 4 months; from highs of $110.55 in March of this year to the lows of $77.28 last month, a $33.27 decline or 30%. The prior 5 month period saw crude oil jump from $74.95 in October 2011 to $110.55 a $35.60 rise or 36%. So what we have proved is crude oil is volatile. Then why is this latest 16% rise of late significant? Fiddling while Rome burns! European economies are in disarray causing concern globally and dire forecasts of the future. But why would crude oil rise if we are heading into a World wide slowdown? Perhaps we are seeing a paradigm shift that few foresee. After pumping liquidity into international economies do we have a spark that has ignited oil? Pessimism is at a peak gloom and doom is prevalent in every media report. Little is expected