Index getting hit with profit taking after a HUGE run the last 5-6 days, with a MUCH larger build in Crude Oil inventories ( +6.88 million barrels ). Expectations were for a mere +1.5 million barrel build. Gasoline inventories up huge as well. +3.33 million barrels.
HogSnot Lubricants to be absorbed by exxon mobil (XOM) does this make a smaller company like hogsnot's ownership more valuable when it goes public or is it just absorbed completely by exxons ownership? Would both stocks then be XOM?
OIH surging again . . . Nice up move since April 1st in the 71 handle. Now trading 87. Huge multi-month resistance being tested here between 86-88. Nat-Gas making new contract lows and yet stocks like HP and PTEN are going to the Moon!
last sector to rally in market rally's? Im on the sidelines.Market looks very strong but I dont want to get nuked with a sudden crater.Oil typically is the last to rally in market moves like this no? I think financials are about to rollover...after citi's earnings im thinking...JPM didnt explode up today and other banks kind of were flat...Financials led the market up and they will lead it down...
New HIGHS for the move! 89.49 Crude is down about a $1.00 on the week, and yet the OIH has rallied from 80 to 89. Haven't seen this level since November 2008!