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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (39258)	10/22/2012 2:14:17 PM
From: Keith Feral	1 Recommendation Read Replies (1) \| Respond to of 219566

Market should keep chopping lower til earnings are out of the way. Energy looks like a big disappointment this quarter that is not yet priced into the market. Oil and gas prices could grind lower for another couple weeks til we revisit the June lows. XOM and CVX look like very good short positions right now, especially XOM. Just coming off the highs from last week, it could find it's way to the mid 80's or high $70's again after earnings. Profits should be flowing out of those two for a couple more weeks. I don't like energy short term or long term at current levels. AAA was saying that gas prices should be lower by another 20 cents in the next month. UGA is very extended relative to oil prices right now. I think it will be $50 or lower by the end of the year. It could be there after this week's inventory reports.