If you're short, I'm the sucker going long....: Cornet

Friday, May 30, 2008

Cornet

Cornet just got beat..... Heartbreak....

the french love a good heartbreak

2 comments:

new comer said...: It's Friday - people do not buy or sell stock.

How do you see the board market? I really don't know it is in short term uptrend or downtrend, any comment on that?; May 30, 2008 at 11:25 AM
Eric said...: The market is all about oil right now....

Unfortunately it's a little lopsided... Oil trades down, the market is neutral, Oil trades up the market goes down...

I'm sticking with my Thesis that we have started the last thrust of an the counter trend rally.... Oil in the next 2 weeks is going to come back to the 100-115 level.... The market will trade up through that... Gas prices won't moderate, because they aren't refining it... Because people aren't buying it. and we will start seeing more stress in the market

I think the slow up-moves of 25-50 points every day show a real improvement of market action... and could mean some strong upside... But I doubt it...

I think over the next couple weeks we will hit a peak(1450), and we will slowly sell off from there. We will then trade range bound 1450-1350...

If oil hits $140 all bets are off, Market retests 1200's

If you chart oil, you realize it's almost perfectly the inverse of the market....

Oil is tracking oil stocks, oil stocks are inverse the financials, the financials are directly linked to the SPX.

It's all about oil

Good to see you melissa...; May 30, 2008 at 11:46 AM

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