Rex:

Virtually all oil companies were up a minimum of 4% today. Theory I have seen was that while oil was dropping the last week the institutional investment community sold out their oil holdings, closed out their shorts on banking industry, went long banking thereby capturing fast returns both ways on banking, then right back to oil as oil shot up nearly $5.00 today. Big, fast money on a programmed trade taking a total of one week to execute their round trip. We can't even try to compete with their power, or their speed. Markets move up and down on the basis of their massed inertia alone. Fortunately, Connacher rode their wake!

Brian