Music From Big Pink

I walked into the office today, got my self a solpadeine plus, a cup of coffee, and popped in The Band's classic "Music From Big Pink." Music From Big Pink is a great way to start off any Friday.

Last night Sarah and her husband watched the movie "Shakes the Clown" on my recommendation. Bobcat Goldthwait plays an alcoholic clown and spends most of the movie drinking and taking drugs with other clowns. Shakes is truly a dark comedy and it is not for everyone. If you find the idea of an alcoholic clown to be amusing you should take a look.

Might be time to stock up on warm clothing, bicycle tires, and crude oil futures contracts. Below you can see a chart with Elliott Wave labels showing that by the end of the year the analyst is forecasting Oil to be trading at $70 per barrel. If you look back to 2001 you can see that there has been quite a run since this "war on terror" thing started. The chart does not go all the way back to the bottom which I believe was in 1999 when oil was trading below $10 per barrel. In 1999 I working as a retail stock broker at J.C. Bradford & Company and one of the older and wiser brokers there said to me and a couple of the other young guys, "boys, when you can buy a barrel of oil for less than a case of budweiser it's time to buy oil and oil services stocks." Of course the gentleman turned out to be dead on with his simple analysis. If the labeling on this chart turns out to be right then the spot where the five is will not the end of this move, just a temporary stopping point on the way to $100 per barrel oil.