Thanks Park, Look at XLE and DIG, both are trying to breakout.
both are also set to pull back at the open this am, I think it's a
time to add to these positions. Sometimes as oil gets cheaper the
refiners margins and profits go up and that seeems to be what is
happening now. Also, notice that the Bollinger bands are pinching
in and that yesterday the price closed above the upper swing high
but outside the BBband, so a pull back is not unexpected. But I
think this is a great area to get in now, and if Iran does
something stupid in the gulf then this sector will take off and
this etf will help offset the price of filling up the suv.
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Thanks Park, Look at XLE
$VIX
Posted by ditch on 7th of Feb 2012 at 08:29 am
Thanks Park, Look at XLE and DIG, both are trying to breakout. both are also set to pull back at the open this am, I think it's a time to add to these positions. Sometimes as oil gets cheaper the refiners margins and profits go up and that seeems to be what is happening now. Also, notice that the Bollinger bands are pinching in and that yesterday the price closed above the upper swing high but outside the BBband, so a pull back is not unexpected. But I think this is a great area to get in now, and if Iran does something stupid in the gulf then this sector will take off and this etf will help offset the price of filling up the suv.