Focusing on the Oil Sector
Once again we have gap-and-sit action. We are in a tight range but holding up well as underinvested bulls try desperately to find entries. The biggest positive this market has going for it is that so many are scrambling to keep pace. Although the price action is euphoric, market players have been slow to embrace the action and now the focus is catching up.
We have the peculiar situation of being technically extended but still having very mixed sentiment. That is what keeps us going and is keeping a bid under the market. A big reason for this is that the short termers, who go heavy cash overnight to avoid the risk of bad news, are missing all the moves. All the gains are overnight so when they start the day fresh with a pile of cash they really have to work hard to put trades in....153 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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