Friday, February 11, 2005
Jim Cramer of CNBC and TheStreet.com notes on his radio show that oil now makes up 8% of SP500, versus two years ago when it was 5%. His theory is it goes up to 10%. He also mentioned the strong moves in the Canadian oil stocks. I have to say, I don't know much about charts, but when you look at the charts of many of the oil stocks, they almost look like they're aching to go higher.