The market finally decided to take a rest. After a week of closing higher just about every trading session, this was needed. The head fed, Bernanke spoke, and stocks went lower. If I were the market, I’d use the opportunity to trade higher a few days. Suck some buyers into a market that never seems to falter. Then I’d take it down, leaving the highs here alone for quite some time. The market usually attempts to trap as many as possible. Who knows. I just wait for the signals. If Coopers work comes to fruition, ETFs QID and SDS will finally stop their march to zero.
VLO is trading higher daily. Bullish commodities are still the place to be. Time to sell some partials though. Oil inventories come out Wednesday.
