Wednesday, January 31, 2007

Nice move in USO

Nice move in the oil patch yesterday, up 5%! That is the largest move in one day in 16 months. Oil just kept going up, breaking through key resistance levels. I am still long here and will add on dips. I think oil moves solidly higher.

My gold position is also doing nicely. I like being in the commodities right now, since equities look toppy and earnings reports are coming in mixed.

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