You would think from all the talk on CNBC the other day after the Saudi's agreed to increase production and then yesterday as oil inventories grew that it was the end of crude as we knew it. Then today, what do you know, crude's back higher at the top of its range. It's acting very bullishly but something drastic is eventually going to have to push it through the top or bottom of the range. I'd definitely be leaning to a break on the upside, but until that comes you should look at it as a range (could be shorted somewhere above 112 with a tight stop above its range highs at 112.75 if you're brave).
On the other hand, as I stated yesterday, nat gas has been coming down for a few days and looks to be finding a near term low to rally off of.
Other notes:
DGLY - coming back to 8.50. Can go long off of/near that level and stop out below.
SHY - still moving up. It's becoming more apparent that the federal reserve does not want to take the chance and tank the economy. All those cuts the market was pricing in for this year? Good chance they are not going to happen.
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