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1. Amex XOI and other energy vehicles are in divergences between lower price
and higher oscillator readings on an intermediate EOD basis. They are also
above their 100 day MA. Reason enough for me to buy on Monday morning. The
talking heads on TV say that the oil companies are still near their lows
because they are initially hurt by rising oil prices as much as anyone since
it takes time for them to "get ahead of the curve" on retail pricing.
Higher, yet stable, crude prices supposedly mean an opportunity for their
profits to grow. Certainly their P/Es are below the Techs. Any thoughts?
2. I am looking for an Internet source of daily futures fundamental news.
Nothing in depth; I am mostly a TA based EOD trader. But it is always
helpful to hear that "market participants expected X to cause prices to rise
(or fall), but prices fell (or rose) instead." This is usually one of the
most powerful signals that a market can give. Any RTs willing to share a
daily futures fundamental Internet news source that comprehensively covers
most contracts? (free or nominal charge since I am largely TA)
Ross Kovacs
rossrk@xxxxxxxxxxxxxx
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