If you took the oil trade long at 52.60 as profiled on Tuesday (target was hit Wednesday), you did well. Now trading at 54.40 ($900 per contract profit). As for equities, the Greenspan storm has passed and we need to watch bonds in the next few days. The equity rally off April lows is in a large part due to the perception that feds are done raising soon, but the testimony indicates otherwise. This could have bearish implications going forward if we add rising oil to the mix.
Some "sell the news" with INTC it seems, but don't expect that to last. The stock is hot. However, lack of an INTC rally on Friday will spur more profit taking elsewhere.
Remember to switch to September contracts today for Globex and ECBOT.
Some "sell the news" with INTC it seems, but don't expect that to last. The stock is hot. However, lack of an INTC rally on Friday will spur more profit taking elsewhere.
Remember to switch to September contracts today for Globex and ECBOT.
This entry was posted
on Thursday, June 09, 2005 at 3:56 PM.
