Wednesday, October 25, 2006
Oil, Steel and the Running of the Bulls
As many of you know, I've been an oil bear the past few months, and it's worked out quite nice. Well, at least in the very short term, I'm putting on the horns. There's no allegiance in this game, and I'm now an oil bull, at least until they break down.
My mind tells me I should be worried about the upcoming elections, but who am I to argue with the charts? Stay tuned. Tonight or early tomorrow morning I'll have charts of some of my favorite oil/energy picks. I'm also turning into a steel bull, and hope to have charts of X, CHAP, STLD and MT, to name a few.
I will also update todays trades late tonight.