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Strategies & Market Trends : Longer-Term Market Trends
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To: AllansAlias who wrote (1197)7/2/2008 10:12:20 AM
From: ItsAllCyclical  Read Replies (3) of 3209
 
So if the OSX breaks lower are you going to play it via DUG, OIH, shorting individual issues, or just stand aside and see what develops? Usually cyclical stocks (such as OSX) peak way before the underlying commodity. As such if the OSX goes parabolic here it's either a sign of 2 things:

1) Mania

2) The floor under oil is going to be way higher than most expect. Say a spike to 150-200 range followed by a floor of 120+ or something like that.

Bank stocks up 3% and nicely off the lows even while the market does nothing. If they stay firm and go just a bit higher odds greatly increase for a multi-day bounce in the general markets. For some reason my daily chart of the BKX won't post. Thus far market bounce is still very vulnerable.
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