up over 2 a barrel and the dow is holding onto gains, amazing. GDP was a bit better than what they expected so I guess oil going up $2 a barrel is fine. Gas near me is now $2.95 should be at $3.00+ by tomorrow or this weekend. Nothing like $3.00 for a gallon. Im still waiting for 40 a barrel....
I thought the same thing, I bought SMH today to get a little long on the semis, but will probably sell the position if SMH starts to break down, which is certainly possible, its been trading in the same 2-3 point range for nearly the last year. AMD, I wouldnt really bother with, it could easily see single digits. I bought this back in the 30's and sold out for a slight profit, glad I did. If anything WAIT for earnings from INTC and AMD. TXN is falling apart as well.
The risk there is if INTC reports even halfway decent numbers, it should lift the semis, including AMD. AMD in the single digits...wow...it's entirely possible.
Is this the quote from yesterday that you are looking for? "VALERO is loosing its MoJo. Big reversal bar in the making." Notice that the poster stated that it was in the making. Had VLO taken out the previous day's low at 63.86 this would have been true, a reversal bar would have been put in, technically speaking. As it was, the low yesterday was 63.90 Missed it by a whole 4 cents! Close, but no cigar.
Its coming just like the financial media said it would last fall, I always take their advise their real smart. I always sell at the bottom and buy at the top when I listen to them.
13:46 Iran Embassy releases letter it says from British woman captive calling on UK to start withdrawing from Iraq - Reuters thats not good
the reason being given today for crude oil spike is the usual Iran and now Nigerian politics (death of opposition leader) I think this hype is being cranked up for obvious reasons and when it stops we may see a sizable drop in crude. These reasons are not sustainable for long IMHO i follow crude from time to time on my blog: http://lauristonletter.blogspot.com/