Crude Sets New High: $94.53
Trick or treat! The dollar hits a new all-time low, oil hits a new all-time high, and Wall Street rallies on news of a rate cut.
I think Wall Street has a bipolar disorder. It's the only place I know where it's time to celebrate because the Federal Reserve has been forced to cut rates because the housing market has fallen off a cliff.
Meanwhile, as we cut rates, those overseas continue to shake their heads -- and bid up the price of oil -- which now costs them less than it did a month ago because the dollar continues to drop in value.
Got that? Okay. Forget it. It's time to go trick or treating.