Market Watch with Tom Waitt

April_20th_2011.mp3 Oil Euphoria    Oil & Gas prices are the talk of the town, in the elevators, at the dinner table in the markets, the flavor of the month. Investors often act like lemmings, mythically following lock step till they fall off a cliff.   Crude Oil Light Sweet (Click For Larger Picture) The recent euphoria in Oil & Gas pump prices is a rerun of the past few years. In early 2007 a barrel of oil was $49.50 by mid 2008 it reached $147.27 a $97.77 advance, by early 2009 it had fallen to $32.20 a decline of $114.77. This time we have reached $113.46 a barrel almost as much as oil fell last time. It is interesting to note that despite the euphoria Crude Oil has had lower highs and lower lows which is not a bullish configuration. The Oil run will end as other avenues become more attractive. The key to investing is best explained by one of the top traders in the world George Soros; "Economic history is a never-ending series of episodes based on falsehoods and lies,