Why did crude take such a tumble last week? Well, we can point to the heavy long position by the speculators and they may have decided to cut back their exposure.
I view crude oil as a safe buy here, especially when compared to the price of the overall stock market. WIth VIX under 14, and with options expiration for September now out of the way, I view the stock market as sideways at best.
Saturday 3:35PM EST, Sep 22 2012