That’s all that matters today,really. Oil and USO has been in a two week consolidation and we will probably know today which way it will break. I can see 10 or 15 dollars a barrel either way depending on how strong or passive Bernanke sends his inflation message today. I don’t mean the move will be made today but it will be a set up for the coming days.
The same names I’ve been talking about will work fine either long or short depending on the reaction.