THEME: OIL TOPPING
Sentiment indicators also tell me that oil has reached a temporary top in the $41 area. I was quite bullish on oil 3 months ago, but at these levels, its difficult to see much more progress.

Here is a typical overly bullish comment:

``I think you could see $45 oil pretty quick,'' Boone Pickens, the former Texas oilman who oversees $675 million in energy investments, said in an interview. ``There's no oil coming to us that we haven't counted on.''