Saturday, June 21, 2008
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7 comments:
you can count on death taxes and a higher vix baby
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 :)
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!!
Iran/Israel, another war for oil. Did you say morphed into a "bushlike" fashion? Oh BULLISH, thought I read bushlike..never mind!
that vix chart looks like a hugely bullish cup/handle pattern in my eyes
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.
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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