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Week of July 7 Racqueteer  07-06-2008, 4:33 PM | Post #2536116  | 
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Everything suggests down, but we're at or near support.  Not much panic; it looks like people think we can hold here.  Can we bounce (even short-term), or will we break lower instead and maybe get that panic selling some say we need to have?  Maybe we'll gather ourselves and move sideways for the rest of the summer?  I think $150 oil would break support, and we could see it soon.

My prediction: Barring really bad news ($150+ oil, for example), I think we could see a little rally this week, but I think people will sell into it and return us to a neutral position by the middle of the following week.  If we DO get that rally, I think I'm going to try to lighten my foreign positions a little.  Not buying more just yet; I want to see if the support level holds.

Topics Buying foreign news oil returns View Complete Thread
 
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