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Depends on your outlook ... mine is a long term investment based on
declining supplies and rising demand. That does not mean that there will not be
volatility, so I do a bit of trading and hedging around core positions.
FWIW, S&P 100 and 500 are the only two major indexes which have not
reached their March 2002 highs. During the past week we have seen some modest
deterioration in breadth and momentum, however the daily charts are approaching
oversold levels. I expect to see one more rally into the 1062-1073 target range
before this puppy rolls over for a real correction. Interestingly, the S&P
commercial remained lightly long as of Tuesday's reporting date.
Earl
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=profitok@xxxxxxxxxxxxx
href="">profitok
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, January 29, 2004 8:41
PM
Subject: Re: [RT] Earl
Hello
from your previous post on oil holding was a good
call
today Exxon 11 billion profit prove
it
however,
it is also time to close 50% of longs in
oil holdings and put a tight stop on the rest
Ben
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