Saturday, February 28, 2009

trader told me to sell market said not so fast

I look at both technical and fundamental issues and way them accordingly 
I will post a chart and make cases for both upward and downward motion of the near term oil contract-I actively trade oil and we have just turned the corner
inventory still rules the day and the strong dollar is making a case for the buy side but 
for monday sell and i will keep you posted
Fridays action was sup[posed to be a complete crash of the near term contract as there was supposedly no more buy side interest and the rally was over anyone who led from the short side who did sell on the overnight learned a valuable lesson I hope-there is only so much black gold 
despite deflation and the recession inventories are beginning to dwindle and the summer driving season is just around the corner-sell short term 45 level and tomorrow we will post your turnaround