Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (4682)	5/7/2009 8:54:56 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

Hi mj, I guess I am glad I got stopped out. I don't know how much upside oil has left.....the chart is suggesting reversal now, with sell signals confirmed. I am not short, but probably should be. I think oil will retrace to that $55.50 level, which is now support. There is a good chance it will fail there. If so, I'll probably be a buyer again if oil pulls back to sub-$48. QQQQ is also reversing to the downside, with sell signals in place. Strange.....I remember the days when everybody thought there was a tight INVERSE relationship between oil and equities. Now they think just the opposite. Neither is true, of course. The lesson of history is that we don't learn the lessons of history. Terry