While not a trader, I agree.
Were oil to drop by 30 bux tomorrow, we might be able to say that the current levels are sustainable. Little growth, perhaps, but sustainable.
And that by itself would not bail out the financial sector or the housing part.
Problem is, oil ain’t gonna drop like that.
IMHO, oil WILL drop just like that, but not tomorrow. I don’t know when the oil bubble will burst, but when it does, I think prices will drop $50 or $60 just like that.