Wednesday, March 9, 2011

What's Your View on Oil?

If you don't have a view on oil, then you can't trade the ES with confidence.  Right now, my view is that oil will go even higher short term, so I am leaning on the short side.  I can't say its a great short opportunity, but this market is not strong enough to overcome rising oil prices.  Since my view is that oil will rise, I can't be a buyer of ES here.  I either want to be short or flat, until we get that oil spike and resulting fear. 

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