The WSJ reports [$] on page 1 today that Morgan Stanley has ramped up it's oil and energy operation to the point that it is a major provider of heating oil to wholesalers in the northeast and is acting as an intermediary in the oil market for United Airlines. [Hope you're getting cash on the barrel there guys.]
Morgan Stanley running a fuel operation for an airline?
That's either a market top sign or a very bullish sign.
Well, let's see..
If it was Merrill, we'd know it was a market top.
If it was Goldman, we'd know it was bullish.
MS, I'm going to give them the benefit and go with the later.
Thank God it's not Bear Stearns, or there'd be water in the gas.