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"

Wednesday, June 18, 2008

Oil

30 minutes of floor trading left.

I'd like to hope that oil is going to give it up.. but yet again, it's closer to the top than breaking support. Even with a sell off, it's going to take 115 for the market to get optimistic.

I think we are headed to a dollar/Oil Fed Crisis.

I wanted to post about this but WFT is the fed doing, after talking the dollar up. then having the ECB cut their legs off.... then they put the full court press to get it back up.... Then they get that story out about how they really aren't going to cut.....

does it show that they are completely confused? and that they have no idea what they are doing. I think oil could go to $150 and the fed will be forced to cut....... Which is the stupidest thing in the world.....

I don't know, I'm just into how Stupid things are...

and the regional banks.... Trading at early 1990's levels.... It's crazy... either there is something to how the uptick rule works, or we are in a lot of trouble...... and oil will be that Mast sticking up above the water on the sinking ship.

and if financials can't find some support, neither will the market.....

Maybe my feelings on this are a contrary indicator... but the market is making me very nervous.

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