It turns out my new outlook on oil was correct. Oil gapped up strongly this morning taking KBR right along with it. Interestingly the action off the open occurred in a very similar fashion to yesterday. Off the open, oil made a relatively shallow pullback to its 50 minute moving average and then rallied. Again, it was a good spot for a trade that could've netted some quick gains.
The broad market is not down to much, but instead waffling back and forth similarly to yesterday. The XLF is getting hit even though FRE and FNM are up. Other stocks to note are LO (which has been a favorite of mine) and NVTL, which is positive today.
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