Oil is rallying after an inventory report this morning. It was definately not like the typical pops you've seen lately in oil--the ones that pop and immediately reverse and head lower. This was much more persistent and has really changed the trend in oil for at least the short term. After consolidating for a bit oil slowly started turning upward leading to a solid buy point around 99.13. It has since raced much higher (now 101.16).
The XLF has really faded on the day. After double topping early on, it came down and filled its gap. It made a lower high at 21.16ish and has come up a bit higher now. The move has the potential to push it back to break even or more on the day.
Otherwise, FIG has continued to be a monster stock--you just can't hold it down no matter what the XLF does. It's still moving higher here up 4.5%. I'd be a buyer on a trading basis. NFLX has continued to be weak (good sell on the open as recommended). GOOG is weak as well. It was acting terrible a few hours ago and really struggling to stay positive when most others were clearly in the green.
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