The futures pick up and the DAX looks good on the onset and currencies turn into a sea of blue on my desktop. We pick-up 70.9 kind finally after beginning our trading at 6PM not until 2:36 Does it begin to pay. Stop is moved pass even to protect a quarter. Good night. Oil threatens to sideways trade
without help from a weaker dollar or a stronger market.
The most important inventory number which was bullish was also tempered by the fact that surpluses still are above the five year average.
Oil rallies up to 71.46 paying $560 bucks to the night owl. This all could have been accomplished by 9 if no typo snafu'd the first attempt to get long on a pull back.
the lesson is clear in overnight slow motion Quad Erat Demonstrandum(it is proven in latin)
when we get back to normal light speed tomorrow remember that at this point most of the news pares off and oil sits on the fulcrum of $70- weak dollar or up mkt. moves scales to the rightand the converse is therefor also true. Sell the ranges and buy dips if more news breaks out we will weigh in and tell you. Many heads are better than one and if any members hears anything newsworthy regarding oil please share it with the group by commenting.
and drop an email chrgr06@yahoo.com to schedule
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