Tuesday, March 31, 2009

More bad news for oil prices...Jim Ritterbusch, president of energy consulting group Ritterbusch and Associates, said he expects oil to fall as low as $47 in advance of a U.S. crude inventory report, monthly unemployment figures and a meeting of the Group of 20 world leaders in London -- all this week. Shum said the U.S. crude report is widely expected to a show further build up in inventories, which will exert more downward pressure on prices.
The SP500 pullback I recently posted about is on. Get ready for a major rally when it completes. See my post at wwww.worldwidefinancialplanners.com/blog
for details.

Monday, March 30, 2009

Oil falls nearly 6 percent on dollar and stock market decline. Shares of DUG are up over 8% today. I'll post again when it begins to look overbought.

Friday, March 27, 2009

Speculation- It look's like the energy sector had the most profit taking today resulting in the ETF I posted about yesterday, DUG, closing up $1.08 (4.68%).
Speculation-It looks like the Ultra Short ETF for the oil and gas sector, symbol DUG, is setting up for a nice trade looking very oversold right now.