So, We Can’t Blame Oil
- Posted by UpsideTrader
- on July 9th, 2008
The only bottom we are going to see anytime soon is the one on the left. I always loved Vanessa. Oil has been cooperating nicely, and this market can’t get any mojo whatsoever, and if you throw out yesterdays pathetic attempt to rally, we look like we want to crash and make new lows. I’m glad I didn’t drink the Kool Aide as I posted after the close yesterday. This is a sick market and it proves the pundits wrong again. It’s really not ALL about oil. We are in a global recession and our financial system is close to flatline. This is all good though, very good, and does get us closer to a bottom. The bottom could be 10,000 on the Dow though. I made about 4 points on CLF short, 6 points on X short, 5 points on MA short, 3 points on ICE short, and about 7 points on SRS long. Banner day.We are going a lot lower kids. I will be back in a bit.
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Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »
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