If oil goes to $15 the stock market will easily be 20% lower from here. The stress the meltdown in the commodity markets is causing in the credit markets is freighting.
There are so many factors that go into card purchases and sales and I think what is more important is who holds the cards and how impacted they are. If for example you have an energy executive whose net worth has been decimated and their future earnings potential impacted they may be forced to sell with no desire to.
Clearly there is a hot money in cards at the moment and no telling if prices start to fall if they will rush for the exits. The card market is very thin and all it takes is a few key buyers to leave the scene and prices can soften quickly.
The other major caveat is a lot of people are tired of the wild gyrations in the stock market and look to collectibles as an alternative asset class and if their economic situation isn't impacted it may have no impact on their physcology.
This is a tough call and something where hindsight will be 20/20.
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