Thursday, April 19, 2007

Oil Slides



Two days ago I commented about the divergence between oil and oil stocks which you can see in the above chart. On Tuesday and Wednesday I exited my long oil position based on this divergence and as you can see that was the top as oil fell over a dollar today for the June contract.
You can read the post from the other day by clicking here.

Posted by Kevin

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1 comment:

Mike said...

I went long some oil stocks on Thur and added on Fri . With the election coming on Saturday I thought maybe we could see a rise in oil into the numbers on Wednesday. I plan on accumulating as we head out of April . What do you think of this company PBG.TO ? I notice they have mandate to save oil companies money and improve the current method of extracting oil by using less polutant and increasing the method (patented) by what appears to be over 50% better results.
Any opinions on this stock ?

9:34 AM

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