As you may well know, crude oil (NYMEX:CL.Z14.E) prices have been dropping precipitously this year. In fact, they are at their lowest level in two years. I have a theory as to why oil prices are dropping. I believe one of the great unsung victories for automobile manufacturers are the new cars they are producing that are getting, on average, an amazing 25 miles per gallon. That is a quantum leap from just a few years ago. With hybrids (cross between electric and gasoline) becoming more mainstream and more motorists turning in their old cars to buy new, more efficient cars, I would expect to see this trend continue. Better cars produce better mileage, therefore their need to go to the pump to fill up is less frequent than before. Last week I witnessed the markets having one of their best weeks ever, up close to 4%. This strong market action for the week put a smile on a lot of people's faces, however it is still too early to confirm a major trend reversal to the upside. I also mentioned in my last video that I liked Apple Inc. (NASDAQ:AAPL), which was making new all-time highs on Friday, along with Alibaba Group Holding Limited (NYSE:BABA) and Facebook Inc. (NASDAQ:FB). I will be checking in on those stocks today to see how they're doing. Also in today's video, I'll be looking at crude oil (NYMEX:CL.Z14.E), gold (FOREX:XAUUSDO), the U.S. Dollar Index (NYBOT:DX) and the major indices.
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