Oil(CLQ8) was up today to 141.74. Up 77 cents.
Gold (GCN8) closed today at $942.50, up $16.30.
Dow closed today @ 11,382.26, up 32.25.
Today was not a rally........they call it short covering!
The Auto industry lead the pack today.
http://tiny.cc/7G1yk
Oil is choking the Western World right now. Until oil breaks, Fannie Mae and housing comes back, do not count on the Equity Market coming back for the long term.
In the short term, keep an eye on oil and the VIX to hit 35-40and then look to go long in the short term.
Jobs and Unemployment come out tomorrow. Thursday is a half day. Oil at all time highs, and a 3.5 day weekend...are you leaving your positions open? I bet not.
Good Fortune from Trade Equity!!!
Tuesday, July 1, 2008
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