Friday, April 9, 2010

Dusting Off the Bear Suit

I think we are topping out here.  Crude oil is lagging and down 1% on the day.  I will not rule out a few more points of upside, perhaps to 1195, but this market is set up for a trip down to 1160 within a couple of weeks.  I am still debating whether to get short ahead of the weekend or to short Monday morning.  I don't expect much of a gap up or down. 
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1 comment:

Anonymous said...

Not sure about the rest of the day, we could ramp up to 1195. I see the top likely on Monday not today. I have to say my downside targets have moved up though, now 1138-1163 (odd the middle of that range is 1150 - the old top)

4/09/2010 03:30:00 PM

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