Gas prices: Out of Control II

Is $106 the breaking point for oil? First, some traders insisted $100 oil was the line in the sand: go over it, and our rally would falter. But it didn't happen: after a brief, three-week flutter, the major indices are knocking on the door of their old highs.
It didn't happen at $105 either. But today, as oil passed $106 to the highest level since late 2008, retailers like JCPenney, Macys, Lowe's and Home Depot are down one to three percent.
There's other, inflation-related issues as well: two big companies (Wal-Mart and Hershey) made strong comments about the effect of inflation.  By Bob Pisani, CNBC Reporter

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