Wednesday, August 13, 2008

Video - Looking to Play a Few Oil Stocks, Maybe

Put a short video together tonight. I am still cautious on both sides of the market here - while I expect a true breakdown that will take us down to our recent lows sometime soon, I don't know that it will be this week. The volume needs to increase on the selling right now. I am watching the 1275 area on the S&P as a tell. If oil keeps bouncing, then maybe it will be this week. I am still take it slowly here until I'm sure.

I did make one mistake in the video - the level on the Dow to watch is 11,450, not 11,630 as I said in the video - I was looking at the wrong number. Sorry.

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