What I asked myself is "could CLL outperform the negative markets".
I do believe 2008 specially in coming months will not be very good onces and I think that markets will go down further.
If oil continue to rise inflation will go higher but also consumer spending will slow down which will reflect in economic numbers ,falling eps and markets in further decline etc..
So can CLL stand the heat ??Maybe but I doubt if we could brake resistance of 4.4 in short term.
If oil goes up that will be most due to  a further falling US $.What can the FED do ?Again lower the rate and building up inflation ??
I can't remember since my time on the stock markets we have such a condition like we have now.In earlier times if the oil would kill the economy the OIl kartel raised the output
but now it seems that the demand outpaced the offer and they are not able anymore to increase the output.
So only a major slow down could bring  the oil price down  but that's not in favor for overall markets .
Maybe I'm to pessimistic but I don't have a good view in short time.