Gas Prices Nearing the ‘Danger Zone,’ Says Kleintop
by Matt Nesto, August 5, 2013
It happened in 2008, then again in 2011. Finally in April 2012, average gasoline prices once again topped $3.85 a gallon. While still well shy of the record high $4.11 set in July of 2008, Jeff Kleintop, chief market strategist at LPL Financial says, every time pump prices top what he calls the "danger zone," stocks have taken a hit.
"For the last five years, whenever we got into (the danger zone), stocks pulled back back five to ten percent," Kleintop says in the attached video, in reference to the 2008, 2011 and 2012 price peaks.