Thursday, July 21, 2011

Oil $CL July 21

IEA says NO to another release. Wise, for a change... Says prior release is still in the market. Oh really? We took care of that in 3 days, my SUV alone did one day's worth, LOL.
So oil is at the top of its range, knocking on $100. Funny how equities are at the top of their range as well, surprise, surprise. SPX needs to go through 1350 and stay there for oil to follow it above $100. Simple correlation, simple trade...

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