No question that the action today in Crude signals at least an intermediate term move of lower prices ($10-$14).
The Million Dollar Question is whether or not this marked the ultimate high.
Still way to early to tell, but the possibility is there.
There is some good potential on the short side here.
I am not going to take it however as crude has bit me too many times in the past.
I very rarely trade it, but should we get confirmation that indeed a secular top has been put
into place then I will get on board for a position move.
Tuesday, October 30, 2007
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