Mixing Oil And "Fast Money"
Oil prices are heading up this morning--currently at a price of $57.27 . This comes after a rather steep dive last week. Analysts say the weather (it's 20 degrees warmer than usual right now in New York City) and possible production cuts by OPEC are fueling the rise.
Oil is just one of the topics tonight on the weekly debut of CNBC's "Fast Money" at 8 pm (forgive another shameless plug). Eric Bolling is one of the show's regulars (his nickname--The Admiral) and an independent oil trader. On "Squawk Box" Bolling--joined by "Fast Money" host Dylan Ratigan--talked about the ups and downs of oil Bolling said oil hasn't been below $55 since June of 2004. He says commodities usually have an ebb and flow of investment--and oil is no different.
Both Ratigan and Bolling agree that investors should look to "short" oil if the price goes below $50. You can hear more about oil on tonight's debut show.