Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Thursday, May 22, 2008

Energy trade


Here oil is at the day's low.... Very different from the past weeks..... The intraday record was 137 yesterday... why do they keep saying 135???? sorry I digress...
this is the tough part of this trad.... Oil at its low and oil stocks are trying to rally.... and it's holding the rest of the market down.... Hopefully this is a final orgasm for the xle.... but the EWT says one more high... seems parabolic to me... so... that and this move isn't' confirmed by the oil price....

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