Saturday, June 21, 2008

On VIX and CRUDE Watch Next Week: Exciting Times!


7 comments:

upsidetrader said...

you can count on death taxes and a higher vix baby

Rick said...

Saudi Arabia announced they're going to increase production by 2 percent in July so that could bring oil prices down if you believe what we've been seeing is a speculation bubble. Interesting times indeed :)

Stewie said...

i heard the saudi news about increasing production a million times before. it doesn't seem to help at all. i would be betting for a breakout of USO, not a break down. that consolidation now looks bullish in nature. it looked toppy mid last week but with the Iran/israel rumors, it now looks to have morphed in bullish fashion. yikes!!

Blue said...

Iran/Israel, another war for oil. Did you say morphed into a "bushlike" fashion? Oh BULLISH, thought I read bushlike..never mind!

n00b said...

that vix chart looks like a hugely bullish cup/handle pattern in my eyes

Stewie said...

nOOb. the VIX is setting up in 'bushlike' fashion indeed ;-) we'll see how it resolves. next week is going to be critical one IMO about the direction of the overall mrkt.

Rick said...

I think you're right Stewie. I was hoping for an island reversal top but I'm biased by a car that isn't the most fuel efficient.

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