Nymex crude broke out to the upside and closed at 54.55. Equities tried to hold on to gains, but it was too much. The trade was a given, short the rally. The feds might be almost done with tightening now that the ISM was low as well, but that might have already been priced in last week . What was not priced in was a 4.50% rise in oil .
This entry was posted
on Wednesday, June 01, 2005 at 12:02 PM.
