I gave out some aggressive buy side pricing and I am leaning to the bullish side through
tomorrow we I may resume the bear trend we have been facing. We sold for a trade above 68 as Oppenheimer has just come out and spread the word about Oil fair value will be $50.
Homes Sales come at ten and a bad number drops the buy side entry back inrto the 66.xx area
Remember don't just leave a price to get steam rolled let it break and turn and then get on -
the very bottom will be difficult to land with all these cross-currents
The $50 Oil model makes sense in some scenarios but Goldman's $85 makes sense in other scenarios -Iran is currently according to the talking heads priced in. I don't think a blockade in the straits of Hormuz is priced in so take everything with grain of salt. We have some bullish manipulation and We shall see if it has a lasting effect my experience is that no policy maker or rate cute or bond buy back will ever be bigger than the market but we are playing this with an eye for inventory's as well there was a report out last Friday that Inventories were bearish Wednesday Last week showed a draw. We shall know by the way this trades towards the end of Day what the smart money believes tonight.
and drop an email chrgr06@yahoo.com to schedule
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