After spiking in early trading the SPY and XLF sold off hard as the XLF failed to confirm a new high in the SPY. However, that drop reversed around 1:40 as the financials took a leadership role and led a rally into the close.
Oil, as judged by the USO, gapped down on the open, bounced briefly, then retested that level providing a good low risk point to get long. It then treaded up to sideways for the rest of the day.
A FEW LINKS:
Crossing Wall Street finds no edge in buying up days like today.
Is oil a bubble?
Vince Farrell keeps inflation in perspective.
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3 comments:
I agree with you about these. Well someday Ill create a blog to compete you! lolz.
Well for me its better to be more realistic.
Well for me its better to be more realistic.
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