Whats everyone think oils next short term move will be this evening when the rates and speech come?? Oils basically copying the dow chart now, and completely ignoring the dollar. So when dow goes up, oil thinks economy up and so follows... ect But when the rates and speech come in tonight you think dow will crash anymore?? Or we already have ALL these problems already priced in, and when paulson starts babbling about growing from this current weakness to stronger future we gna see a spike in dow???
Oil isnt going anywhere soon, there is a global slowdown in the making and you think oil is headed back to up, oil is headed back to $50.
Anyone that isn't trading the oil service and natty-gas stocks is truly missing out! This is without a doubt, one of the GREATEST sectors to TRADE, bar none. As for CL, there is a "measured-move" that targets $86.