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Message: HOD

Re: HOD

in response to by
posted on Dec 02, 2009 12:48PM

Not playing any liquids or gasses - just solids right now. I think oil is just going to bounce around for the rest of the year. Short term, it may go lower for another day or so. Just remember, don't let these leveraged plays turn into long term holds.

US dollar is a bit scary - still in a clear downtrend but the momentum is weakening. Appears to be in a bullish falling wedge. If (when) it breaks the downtrend line, it could quickly pop to .78 and even go as high as .81. The theory on falling wedges is that it should reach the top of the wedge (.81), but just in my observations over the years, it may only go half way (.78) if the fundamentals are weak (like now).

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