Today was very much like last Wednesday…a strong morning and then a move down into the close. Now if we can just replicate the two days after last Wednesday, which, if you remember, were 2 very strong up days, we could have a very nice opex week.
Moody’s finally got around to downgrading Greece today….something everyone already knew. So what’s next? Announcing tomorrow that BP has clean-up expenses? What the $%@&*!
UCO had a nice run with oil this morning, but moved back down in the afternoon along with stocks. I’m still bullish on commodities in general and oil specifically. Here’s some reading that helps me with my bullish sentiment. The prez’s speech Tuesday night may help also.
- Business leaders predict ‘global oil supply crunch and price spike’
- It’s All In the Charts: Outlook Improves for Crude Oil
- Oil Spill May Cost $4.3 Billion in Property Values
Futures this evening still hanging around breakeven. C’mon bulls, just do it!
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
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