Hurricane Season

It looks like hurricane season has finally arrived. Well, at least the speculation about hurricane season in the form of oil bids has arrived. When I wrote Oil Change last week, I mentioned that I would be bearish on oil until the first threatening tropical storm appeared in the Atlantic. So much for me making fun of the oil traders when they get confused if they are Oilmen or Weathermen! I have no clue whether Tropical Storm Dean will find its way into the Gulf as a hurricane or if it will cause any disruption to energy supplies.  However, I expect that its very appearance will plug the recent slide and push oil back toward the recent highs.  Consequently, I am changing to a bullish stance on oil.