oil up, oil stocks down

I just loaded up APA RIG USO. Shorted DUG. I'm going to play this one with tight stops today. Either the shorts get burned or this is a trend day. Safe trading.

I noticed that Crude oil just had a correction of 1.50 It is below 125. It is a buy. Denleo

I noticed that Crude oil just had a correction of 1.50

It is below 125. It is a buy.

Denleo

Oil all time highs obvious short. Fight the trend!!!!

DUG can't break any of the last few days highs. Its toast if something doesn't change soon.

I have no opinion about XLE or DUG. Energy stocks are mixed. But USO is pretty clear to me. Denleo

chinese oils ptr ceo snp ....may pop more on a oil drop;)

I noticed that Crude oil just had a correction of 1.50

It is below 125. It is a buy.

Denleo

Oil all time highs obvious short. Fight the trend!!!!

DUG can't break any of the last few days highs. Its toast if something doesn't change soon.

Market weakness will drag oil down. Oil is nothing but fluff and speculators at this point. As market errosion continues they will start taking profit in oil. That will drag oil stocks down with it too.

Things usualy change when no one expects them to

Give it a couple days.

Edited by ogm, 09 May 2008 - 11:10 AM.

Here is DUG 60 min chart.

I think its ready blow. Look at the last 3 candles setup.

And momentum is getting ready too.



By ogm

I noticed that Crude oil just had a correction of 1.50

It is below 125. It is a buy.

Denleo

Oil all time highs obvious short. Fight the trend!!!!

DUG can't break any of the last few days highs. Its toast if something doesn't change soon.

Market weakness will drag oil down. Oil is nothing but fluff and speculators at this point. As market errosion continues they will start taking profit in oil. That will drag oil stocks down with it too.

Things usualy change when no one expects them to

Give it a couple days.

Hey I don't disagree that they can drag the whole thing down. My trade is at risk right now that's certain.

You also have a ton of shorts so this should be fun either way .


Don't forget they could be using the energy and banking sector weakness to be buying for one more short squeeze. No different then they used its strength to distribute a few days ago.

I noticed that Crude oil just had a correction of 1.50

It is below 125. It is a buy.

Denleo

Oil all time highs obvious short. Fight the trend!!!!

DUG can't break any of the last few days highs. Its toast if something doesn't change soon.

Market weakness will drag oil down. Oil is nothing but fluff and speculators at this point. As market errosion continues they will start taking profit in oil. That will drag oil stocks down with it too.

Things usualy change when no one expects them to

Give it a couple days.

Hey I don't disagree that they can drag the whole thing down. My trade is at risk right now that's certain.

You also have a ton of shorts so this should be fun either way .


Don't forget they could be using the energy and banking sector weakness to be buying for one more short squeeze. No different then they used its strength to distribute a few days ago.

I don't think the selling is over yet. Not by a long shot. I posted SPX and VIX 60 min chart. Here is QID 60 min. Has all signs of a turn forming.

Summations are rolling over today too, if internals won't recover by the close.

OGM, I agree that oil is nothing but speculators at this point. Well, also White House policies, Russia, OPEC, Arabs... But guess what, I am a speculator. Denleo