With the first half of ’08 over and done investors are hoping that the much anticipated second half recovery is at least on the horizon. Unfortunately that horizon might be a little farther away than previously thought.
At the time these predictions for a second-half recovery were made, no one had forecast oil at $150 a barrel," said Matt Cheslock, a senior specialist at Cohen Specialists.
Oil is quite a sore subject, especially with Fast Money viewers. Penny D. writes, “Why do people buy oil commodities on predictions and not cold hard facts? Does anyone ever stop to consider that maybe they are being set up or manipulated?”
John A. from Idaho takes it a step further. He writes, “The Commodity Futures Trading Commission (CFTC) should require that any purchaser of a Futures Contract take possession of the commodity in question and cannot re-sell the contract!”
In order for an economic recovery to occur, says Matthew Tuttle, president of Tuttle Wealth Management, it's going to require "some clarity on oil prices, what the Fed is going to do next, no new investment banks going under, and a positive trend on the economic numbers."
And that leads to our Fast Money Reader Poll.
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