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Tuesday 1 July 2008

Oil Trade may be Crowded

I'm concerned about my stock scans because that the majority of my stocks are Oil and Coal related stocks. If Crude Oil tanks, I'm ready to short every oil, coal, and ag stock that is near there 52 week highs, while at the same time ready to go long financials and airlines. Healthcare looks interesting as well. ECB will likely raise rates on Thursday and I'm not sure what impact it will have on GOLD and Crude Oil, but I'm ready to react.

According to the traders almanac, July 1st is statistically a bullish day.

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