Monday, May 12, 2008

Who Will Lead This Week?

Oil is off a couple of bucks as I write. RIMM announced a collaboration with MSFT and the stock is up about $4 in the pre market and financials are flat. It will be interesting to see if a particular group decides to take the leadership role this week. Maybe tech. I received a bunch of e-mails on my USO thought. Some folks think it will continue higher and some feel that it falls flat on its face. That's what makes a horse race. I cannot predict where oil will be a week a month or a year from now, maybe Goldman is correct and we tag $200. What I do know, is that it near term over bought and do for a breather. I like to play the breathers. I borrowed some USO this morning and that doesn't mean I will actually short it but it is in my hip pocket just in case. I am seeing a couple of interesting charts that look bullish and I will try and post them this morning, so stay tuned.


About Me

My photo
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.