Who Will Lead This Week?

Oil is off a couple of bucks as I write. RIMM announced a collaboration with MSFT and the stock is up about $4 in the pre market and financials are flat. It will be interesting to see if a particular group decides to take the leadership role this week. Maybe tech. I received a bunch of e-mails on my USO thought. Some folks think it will continue higher and some feel that it falls flat on its face. That’s what makes a horse race. I cannot predict where oil will be a week a month or a year from now, maybe Goldman is correct and we tag $200. What I do know, is that it near term over bought and do for a breather. I like to play the breathers. I borrowed some USO this morning and that doesn’t mean I will actually short it but it is in my hip pocket just in case. I am seeing a couple of interesting charts that look bullish and I will try and post them this morning, so stay tuned.