Friday, March 6, 2009

weekend wrap

oil defied the market today and actually traded as high as 46.30 for the april contract
prior to settling down at 35.60 in extended trading the official market close was 35.52
opec-weak dollar-talk of fewer tankers-talk of supply crunch all contributed to the new high
we gave some good advice but unfortunately missed our targeted buy at 44.03 only to watch it run-well at least we are long here-many traders say the sp rules oil but i say it only influences 
today should prove to all that there are just too many factors for oil to have just one master
a down market monday will probably hold it back a little yet did not seem to be able today
never a straight line but the way is clear to 36.90