According to Baker Hughes, US land rig counts were up 7 this week in the 49 states. A steady rise. I'm a little surprised they arent stronger with oil and gas prices at these levels. But thats probably a good thing. The faster they rise the faster they may fall. Oil inventories rose again last week. Less than analysts expected. But what difference does it make, inventories are at enormous levels with weak demand. Unemployment is still rising in many states. The price doesnt reflect fundamentals. The low dollar is driving price. Natural gas inventories are still rising even though its getting colder. Inventories are huge. This is like a tower of dominoes that will eventually collapse. Consensus earnings estimates for next year are improving though.