That's all that matters today,really. Oil and USO has been in a two week consolidation and we will probably know today which way it will break. I can see 10 or 15 dollars a barrel either way depending on how strong or passive Bernanke sends his inflation message today. I don't mean the move will be made today but it will be a set up for the coming days.
The same names I've been talking about will work fine either long or short depending on the reaction.
Wednesday, June 25, 2008
Oil and The Fed
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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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