Terry, that got me (being one of those front page watchers -g-) about all the hoo hah and hoo rah about the price of oil, the chart had a spike up and bearish engulfing, i believe this is an IT top for oil, but i don't think it will fall apart here, but consolidate or correct, oil topped in coincident with a djia bottom, a resurgence in crude will be rude on the djia.
i've been trading all on the long side on drugs, retailers, and some other old economy stocks since before the breakout last week. Monday i started buying gold stocks, today i traded out of my old econ stocks and bought ndx stocks, my only remaining short was rambus which i covered today.
Nice nyse a/d today, this rally won't be over till we peak in the mcoscillator, drop and make a lower peak. with a higher price. I think we can run minimum into mid april.
new lows are drying up, we have a signifcant broad based bottom in place, even phillip morris went up a little on bad news.
GE has a classic failed H&S pattern and is headed to new highs.
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