Cramer gets it:
Well, he's almost there. He doesn't acknowledge that there was a bubble, but he'll come around. It's too obvious. From the blog "Bubble Hunter":
Oil Bubble:
But people should watch and read Cramer. Yeah, you have to take him with a grain of salt, but he's a trader. He's a manic nut but he is as smart as they come. The great thing about him is that he reads and reads and reads and reads and reads and then for relaxation he looks at charts. He's also extremely intellectually flexible and nimble. He has to be. He is constantly analyzing markets made up of billions of irrational humans.
As I wrote before, we saw peak $70 oil, and a peak oil price, certainly, but not peak petroleum.
Diesel, as Cramer points out, is a problem and will remain so - or at least fall slower than other distillates. I like using words like "distillates". "Distillates" is a great-sounding word. Say it with me, won't you?
Distillates.
If all these changes seem stymieing and unlikely to you, you're not alone. I saw celebrated economist Nouriel Roubini on the "Charlie Rose" program slipping into talk about $120 oil and the falling dollar.
Apparently he doesn't get out much.
It's a confusing time for everyone. I just happen to like times like these.
May you live in interesting times, Cramer
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