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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: quehubo who wrote (64393)5/15/2006 11:24:46 PM
From: GaAs52  Read Replies (1) of 206302
 
I guess all the "tight" stops are taken out. How about loose stops? OIH bounced from 50 day MA, but quite weakly. For the time being, hedge funds/short speculators are giving leeway to the buy-in-the dip crowd to collect all their "opportunity". Once the crowd of buying-in-the dip are consumed, then we will see real blood with the technical shorts start piling.

CL is already down another 70 cents now ($68.70) and with PPI and CPI are coming in the next two days, any buying should be quite cautious. A wrong PPI or CPI number and the next wave of selling will cause a train wreck. Meanwhile, I converted my originally deep in the money puts, which became very very deep in the money, into out of money puts.
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