So I got a lot of calls the last few days as oil has basically gone parabolic… Holy cow! Up $5 yesterday. I don’t know why I am so shocked, after all I have been saying $140 was the next target. Caution, this is one of those runaway train markets right now…Danger Will Robinson…Danger!

Look I fully believe in Peak Oil, and expect to see $200 crude by this time next year but if demand destruction does set in and the dollar can find some critical foothold we could see $20-25 come out of this market and certainly faster then it went in. While $140 is my target $135 would be where I would cash out until fall and trade something else. Anyway, right now it’s strong and getting stronger which means a painful summer for you and me. Suddenly that Nissan Hybrid is looking more attractive.

So I joined Stuart Varney at Fox Business and then headed over to CNN to take viewer calls about oil….Man are people upset!