I was suprised as oil moved up as the non-intigrated moved with the integrated.... especially as oil moved up the non moved down... now somehow they are in lock step....
Wierdness... but it's not the first wierdness in the market.
Here we are.... with the XLE.... this isn't in an uptrend... it's in a downtrend... it's forming range bound or a pendant... maybe a small upside near term bias.....
One of my trading mistakes is that I'll hold my short position because I have hit so many winners... Ill refuse to back out here..... But let's see if I can manage.
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
Thursday, August 14, 2008
Intigrated
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