Globex 10-06-08

well, here we go! So far so good

I like the way the minus 5.5 off the open broke the overnight spike.......key number zone is 75 - 79...we don't want to spend too much time below it now...otherwise our longs will take more heat......

I also have a pos. divergence in my flat line chart with the ES making a new 30 min low. I am trying to look at this as unbiased as possible but everything I see is divergence or oversold, but its lied to me before. $TICK can't get above 0, that needs to improve

market needs to flush out stops below the globex lows...

Cash Dow coming in for a test of the 10,000 level

Bought some more at 1066 avg now 75. $TICKs didn't participate in that last sell off, first time this A.M.

DOW 9988

How in the world is oil below $90 and its still the same at the pump? We hit highs at pump during IKE at 4.15 now its 3.85, last time oil was at 90 gas at the pump was 2.3 something is fishy

quote:

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Originally posted by CharterJoe

How in the world is oil below $90 and its still the same at the pump? We hit highs at pump during IKE at 4.15 now its 3.85, last time oil was at 90 gas at the pump was 2.3 something is fishy

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Look at a chart of gasoline supplies, its at record low levels. Refineries are unable to keep up with demand. Which is unfortunate since seasonally we want to see gasoline and heating oil stockpile building quickly, moving to the upper end of the normal seasonal range, as the Northern Hemisphere prepares to enter winter. Now it's too late in the season to rebuild the stockpile of heating oil, there is not enough calendar time left given the restricted flow from refineries. Without heating oil it's gonna be a long cold winter.

order to buy 1049.50

switching to es thread...