Energy

[Pascal]

The strength of today's bounce has taken me by surprise. I was only 50% positioned long and already sold some in the bounce. In reality, Energy/Treasuries Selling/Weak Yen are really pulling the market up. Cannot be short under such a condition, but this sort of short covering move is typical of bear markets.

On the oil sector, SCO is telling us that oil is overbought right now.



Pascal

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