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Been awhile since I've posted an update on the stud bolt indicator. In case you don't know what it is, the 'SBI' is a merely a report of the business activity of one company (who I consult with) that supplies stud bolts to the major energy services companies on the gulf coast.

The logic is as follows: If stud bolt sales are high or increasing then the business of companies that build rigs or other oilfied equipment (on & off shore) is stable or increasing.

Well, this month, the stud bolt index hit an all-time high! The company shipped 10% more bolts than any month in its history. Some of this is due to an increase in market share, but (according to my sources) most is due to a surge in demand by customers such as VRC, RON, and others.

I wouldn't make any investment decisions based upon this crude measure, but it's certainly something to think about.

BTW -- Has the price of oil surpassed that of a large pizza yet?
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