Wednesday, January 31, 2007
another day for the bulls
Should see some buying tomorrow...Alot of traders got caught wrong footed and were expecting a sell off in oil after the inventories..I stayed square just in case...Dow is on fire..oil over 58..Sentiment should be good tomorrow..I have been selling any run ups in oil sector this week...Haven't been a believer in the strengthening oil price this week..either has the market luckily..Tend to trade VPC and BUR..think we need a few good solid closes like tonight to sustain the rallies..so I might continue to sell any run ups and try buy dips in the morning for next few sessions.. as my friend always tells me : 'always leave a bit for the next man'..Bullish talk coming from Nymex though..they want to buy this thing up over 60 again.. I think I may just be a believer for now!
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