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swingtrader930 (81.77)

Oil Rallies Above $70 . . . .

Recs

2

June 10, 2009 – Comments (2) | RELATED TICKERS: USO , OIL

The media is saying the worst of the recession is over.  What they are really saying is we just sinking a little slower.  But there is one thing thats on the rise . . . . OIL.    Oil reserves last week dropped by 800,000 barrels and gasoline by 1.6 million barrels.   I have heard analysts predicting oil will pull back.  However, this is not strongly indicating by the price trend.  A pick up in oil demand could potentially be an early indicator that the economy may be slowly starting to recover.  I look for oil to be one of the early leaders in the market recovery.  A good way to play the oil move is USO and OIL.  Find the full story at http://www.trendingtimes.com/html/market_news.html

2 Comments – Post Your Own

#1) On June 11, 2009 at 3:26 AM, awallejr (81.52) wrote:

If you review my blogs you will see I urged people to play this oil rally at least for the months of May and June.  Right now it is seasonal speculation.  It will pullback, but just not yet.  It has a little more room to go up, tho taking profits would be wise.

Now long term there are still undervalued plays that you can literally buy and hold.  ATPG is one.  Integrateds are another, but more for their yields, like BP.

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#2) On June 11, 2009 at 8:08 AM, swingtrader930 (81.77) wrote:

Thanks for your comments.  I will check them out.

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