Thursday, February 24, 2011
Expecting Weak 2nd Half of Day
Look out for the sellers starting from the afternoon. This is a different market now, for the time being, you can't chase rallies. Unlike the Egypt situation, Libya's problems have caused supply disruptions for crude, and that does have a real effect on the global economy. Iran and Saudi Arabia even being in the conversation for revolutions is enough to keep a firm bid for crude oil.
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2 comments:
I admit I was wondering when you went long after you said days ago about how the on-going buying was building "fuel" for a move down. 1280 in the cards imho
Yeah, 1280-1285 seems like a decent support zone to take a shot on the long side. I was too early and paid a small price for it.
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