Once again, oil had a big influence on the market. Oil prices fell sharply in the morning as China announced that it was lifting its cap on oil prices, which should slow demand for oil in China. This was conveniently announced a short time after the market opened. I’m sure someone got positioned nicely […]
Oil and credit woes continued putting pressure on the market today. I mentioned in Sundays post that the S&P 500 could rally to the 1380 area, and then could be shorted. It didn’t quite get that far, but now looks like it could head lower.
Although lower appears to be the path of least resistance, a […]
The major indexes grinded lower all day due to worries over rising energy prices and credit woes. Yet I, a trader who almost never shorts, saw one of the biggest one day gains in my account in a while. This was due to being positioned in those amazing Ag stocks (MOS, AGU, POT and CMP), […]
