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IBDvalueinvestin (99.64)

Oil retraces from $87 now at $85.90 but that won't last long

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April 07, 2010 – Comments (0)

not with rates staying at record low levels for an extended period of time per the fed.

The path to least resistance now is up at least till Memorial Day.

One oil stock NEP was surging today and almost broke $10 until oil started to go down further after 1:30pm and oil just broke below $86. NEP came down as well to $8.66 from $9.99 earlier.

I am watching this stock for earnings on Next Thursday the 15th. expected eps of .26 is the estimate.

 

http://www.bloomberg.com/energy/

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