Friday, November 23, 2012

With the 10 year note out of the picture UGA fills the void

UGA  (gasoline by proxy)  is taking over the role that long rates use to hold and moves inverse to the feds downside manipulation of interest rates. The lower they push down rates the higher prices to be paid for gasoline as a sort of natural reaction or pressure relief valve on the system.  Now with the elections over pressure on the fed to distort energy prices out of the way, UGA can find it's natural price in the mid 70ies... or so I'm thinking.

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