Friday, February 25, 2011

Relief Rally

This is your rally for oil not spiking even higher.  It is well known now that the 1st day of the month is always up, and funds don't want to underexposed to the long side ahead of that guaranteed up day.  So we're getting some front running ahead of that, and also bouncing from short term oversold conditions.  I will consider the short side for Monday morning if we get a gap up. 

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