================= Knocks4200; BothXLE,OIH are still nicely trending above 200dma ; polar bears knocked both pretty hard. Have stopped shorting in that sector. If OIH closes above close price of $136.86; should be as bullish as XLE= higher highs, higher lows/close, even if its an early entry. Supply/demand or war may help; not a prediction, peradventure probabilities.
Chaqi, seg, elcap My God! get a life, how can you guys live there? Here in Puerto Rico, it's always warm, well... we wish for some cool days which we sometimes get in the winter?? maybe 25oC (46oF)... You guys be careful... Housing starts gave a big bolt yesterday to crude... Bernake confirmed his dovishness. Anyways, I agree from here on it gets choppy, no definite direction. But, the long term is still up.
I've noticed that occasionally XLE and OIH move up and down in a very tight range, e.g. from 11:04 to 11:10 this morning, XLE was going up and down around .09, and OIH doing the same by about .22, with periods of around 65 seconds. Does anyone try to scalp OIH when it does this? 20 cents on a $141 stock doesn't seem like much, but if it's repeatable...
Talking about weather, Roach has a very nice piece at Morgan Stanley; Seasonally Mal-Adjusted. Anyhow, makes the case of the exceptional warm January, about 27% above average, for the continuation of house construction, retail sales, employment and the anomalous buildup in oil inventories. So, the US economy is not that robust, it's the weather... Apparently, February could try to average out this effect by becoming an extremely cold month... So, stay on the lookout for the weather; it could be telling us a lot about the robustness of the economy and where prices are headed. This is the link: http://www.morganstanley.com/GEFdata/digests/20060217-fri.html#anchor0
Imho the February low I was talking about in the beginning of this thread, is in place for both XLE and OIH (as well as for CL commodity). Looking for new highs...