Market Watch with Tom Waitt

December_22nd_2010.mp3 Slippery Oil    Crude Oil rose to its highest level in over two years this morning hitting $90.80 a barrel.   Crude Oil (Click For Larger Picture) Crude oil posted its highest level since October 2008 trading $90.80 a barrel this morning. Crude is up 35% from 2010 lows set May 29th. In the last 3 years crude has traded as high as $147.50 a barrel in July 2008 and as low as $33.20 in January 2009. The midpoint of those extremes is $90.35. Calls for $100 plus oil are filling the prediction files for 2011. Before investors get too long, consider we are not only at the midpoint of the last 3 years but also midway in a trading band of $80 to $100. It is yet another flag in the overall markets that warns us to be nimble and assess our current positions.   There are many opportunities to make money but it requires action on your part, each stock selected must show risk/reward of at least 2:1. Make the call - let me provide you with a unique perspective