OIL

[Pascal]

I am closely watching oil, because if it drops further, energy will also drop back and it might pull the rest of the market.

We can see that oil bounced today and looks OK. The key level is $84.

SCO (The short oil ETF) was under pressure just before it fell back. I shorted SCO with $36 as target, but if EV is still negative when target is reached, I'll keep the position.


Pascal