RE:RE:Buffet
I think the difference was when oil hit $150 the world economies could not afford oil at that level and you had demand destruction and the unwinding of speculative bets. The SPX is a totally different story and we can just as easily be trading at 1850 as 1790 and there is still money on the sidelines waiting for a pullback so its not like we are all in at this point on the long side.