PM Update:
End of quarter window undressing continues, but there is a sense that we are due for a real rally any day. The tape looks almost unwilling to move much lower, even though oil is at 141. If QQQQ closes above 45.27, it could be time for a swing long. After all, the 20 dma is almost 7% away, normally an extreme. It might also be time to start exiting all oil long positions.
End of quarter window undressing continues, but there is a sense that we are due for a real rally any day. The tape looks almost unwilling to move much lower, even though oil is at 141. If QQQQ closes above 45.27, it could be time for a swing long. After all, the 20 dma is almost 7% away, normally an extreme. It might also be time to start exiting all oil long positions.
This entry was posted
on Monday, June 30, 2008 at 6/30/2008 02:06:00 PM.
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