Oil is up and futures are slightly lower. Fridays are usually bullish for oil but we are in strange times so we will just have to see how it plays today. Looking at a potential DUG long and an XOM short soon. I mentioned a few posts ago that I was getting ready for a short of retail.I am now short RTH(retail holders) around $96. I will stay short for a while on this one. I still believe the consumer is fried.
The solars were toast yesterday and STP couldn't run on a good number. SOLF down $5 on a Goldman downgrade. They probably need to back and fill,but if oil rolls over they do have huge room on the downside.
Friday, May 23, 2008
Three Day Weekend
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
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