Of 1 . Energy is up theres a pipeline outage in libya. You saw about 90000 barrels a day being taken off. Crude oil at its highest level in two years many of the oil names are up, up and away and the only thing and joe terranova, not to take anything away from this week because the trading is open. The news does flow, but do we read anything into these price actions . Its a continuance of what we talked about last week, money flow and that the market looking for opportunities will try to find places in some of the lag yards of 2017 and i think energy lines up as such i think clearly many managers were underweight energy. They have gotten burned so many times trying to buy it over the many, many months this year that it appeared to be break out. Right now its going towards 60. Spot crude oil is going to go above 60 im rather certain of that as were very close, but lets not focus solely on the price of oil but rather Energy Equities thats where the opportunity is. Pete and jon najarian l
Points s p sitting at 60 or so points above its low. Were watching a whole bunch of Different Levels today notwithstanding the bottom right hand corner, thats the yield on the tenyear note, 2. 85. Its been higher than that today. That, joe, seems to be the focus of attention that level about a fouryear high as it creeps apparently ever closer to 3 . Yes and i think the market right now has this paradigm shift where we are going from remember the new normal, everyone was talking about the new normal were going back to the normal and i think thats exactly what the markets right now are trying to understand. Were not really going to get any insight on fed chair powells feelings about the market until he goes before guess and the senate i think he does that february 28th and march 1st we need some certainty what is he fighting is he fighting what other fed chairs over the last couple of years have wanted to fight, which is deflation, or is he now fighting inflation we dont know what hes fi