4 replies to this topic

[hiker]

now testing an impt. support zone...if it does not hold....likely price will head lower. On a daily basis, the rallies continue to be sold in the sector.

Edited by hiker, 06 October 2006 - 10:13 AM.

[hiker]

oil futures just now trading at 61.11 or so....on news of OPEC production cut. I am thinking selling the rallies still makes sense...but this strategy may be more iffy now than in recent weeks USO from today's high to 56-58 is of interest

[hiker]

a recent intraday low is marked on daily chart...let's see if a close below occurs someday:

[hiker]

note test of recent 53.11 low...I have covered short today. 52.46 swing low remains below inventory nos. to be released tomorrow.

Edited by hiker, 11 October 2006 - 09:37 AM.

[hiker]

T. Boone Pickens interviewed today on Squawk Box on CNBC and he said oil will see $70 before it sees $50.