3/4 covered in Crude
By davidc November 13, 2008
Support at 55 along with a potential for short covering rally in the SPX ( contrary to opinion on the blogosphere ) has me covering 3/4s of my short. Lets face it , oil has been a duckshoot.. but now we are close to strong support.
Heres a basic chart, candles are 2 hourly. Falling wedge [...]
Support at 55 along with a potential for short covering rally in the SPX ( contrary to opinion on the blogosphere ) has me covering 3/4s of my short. Lets face it , oil has been a duckshoot.. but now we are close to strong support.
Heres a basic chart, candles are 2 hourly. Falling wedge may fizzle but it may not. This is as of overnight at 3 GMT. Stop on remainder is at 58.25 . Theres a slim chance of a short covering rally that turns into something , which would have me looking for an energy stock play ( Scalp ..really not sure ). Depends on what time i get out of bed.
