The Market On Monday

  Good morning. It is 23 degrees and overcast here in the Upper Hudson Valley. The forecast predicts a warming trend for the week with afternoon temperatures in the 40s. This part of the Northeast completely missed snowzilla and the ground remains brown grassed and snow free. I hope you had a good relaxing weekend. I've has a nice week long respite from the news although I did tune in periodically. I thought the Palin endorsement of Trump was the highlight of last week both in comedy value, which was well exploited by Tina Fey, and representing the continued de-evolution of American politics exemplified by the GOP's top candidates in this election cycle.

  At 8:45 a.m. ET futures are moderately lower and the price of oil per barrel is trending down with oil just above $31 a barrel. The market is poised to open lower.

  There was a brief rally in the market and oil in particular last week probably sparked by the cold and the storm but today that is old news. The DOW has dropped below 16K and the downward drift of oil appears to be brake free once again. The Saudis want the entire oil market to go through them and saturating the world with their oil is their method. I'm reading that Saudi Arabia is borrowing money so one can presume they know how they will pay it back and right now quantity as opposed to high price is the choice.

CNN: Oil and stocks resume their slide

Crude oil prices dipped below $27 per barrel last week, hitting lows not seen in over a decade. The price then shot up at the end of the week, helped by cold weather in the U.S., which boosts demand for heating oil.