Wednesday, August 6, 2008

Oil stocks recovering...

After a false start a few days ago, the oils seem to be moving up now...The breadth indicator for the oils, $BPENER made a new low after yesterday's close, deep in oversold territory, even as the oils firmed up after the Fed non-announcement in the afternoon. There's still a chance for a pullback, but as of 9:30 CST, things look stronger....

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