Monday, June 30, 2008

More Stress

Oil is flying, gold is up and futures are lower. I think oil does its run for the roses this week. The greenback is weak again and the ECB will probably raise their rates on Thursday. That won't help things at all. I think many of my charts over the last few days can be in play this weak, both short and long. We desperately need some relief from oil prices to set us up for any kind of bounce and I just don't see it.

Watching USO and DXO as well as the other charts.


About Me

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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.