Yesterday the Dow crossed 10,000 for the first time in a year. What could trump that?
Oil crossing $75 for the first time in about a year, too.
That’s my first tripwire to be cautious about the market.
The next one — a much more significant tripwire — is when oil hits $100 a barrel.
At $100 a barrel, Americans — or should I say those folks that drive 2/3rds of the world’s largest economy — start feeling queasy about all the extra money they’re spending.
And we know what happened to corporate earnings and unemployment acceleration the last time that happened.
