Is currently riding high on the Indonesia charts. The single is by Kotak feautring Anggun.
While oil and gas stocks such as Hibiscus and Reach Energy has gone up in recent months, hand in glove with a rise in crude oil prices, this hasn't been the case in New York.
That's causing concern with analyst over there, leading them into a game of TEKA TEKI, resulting them in predicting that the crude oil bubble is going to burst.
CNBC has the story. Read below :
The stock market may be signaling something is awry in the oil market.
Like a seesaw, oil prices have gone up in February, while energy stocks have gone down. Matt Maley of Miller Tabak Securities says the action in crude oil creates a "conundrum."
"Energy stocks usually lead crude oil ... so if history is any guide, the decline in the XLE should be telling us that the recent bounce in WTI is not going to last," Maley said in a recent note.
The Energy Select Sector SPDR fund (XLE) is down more than 5 percent in one month, while West Texas Intermediate crude futures are up almost 2.5 percent. Energy is the worst performing sector in the S&P 500 over the same time period, logging a near 6 percent loss.
Still, investors have been piling into crude futures and traders say there aren't really signs of a pending correction. But the buying by speculative traders in oil futures has created the biggest net 'long' position in history, signaling that if there is a break in prices, investors running for the exits could cause some calamity in the market.
"The Commitment of Traders data shows that the 'specs' are loaded to the gills in crude oil — they have their largest net long position ever. Similarly, the 'commercials' have their largest net short positions ever," Maley notes.
