ES Journal Archive (2006 - 2008)

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as the stock market rallies, Oil will gain bid in the market, pushing it to test higher levels, eventually surpassing 100.

at this point comes some more anxiety about the economy.

basically Oil has been curtailing the markets rise, it moves with equities.
 
Defenitely. If the market recovers and tests new highs, oil will get bid. Although $USD starting to recover this will put some downside pressure on oil.

Looking to get long 1466-1467. Did a mini short scalp here.
 
my gut is telling me market doesn't feel right... were at the wrong point on a macro cycle to have the bid sustained.

basically the higher prices are giving investment banks hedge against a 'scare' popping the VIX at 38.

got a lot of calls yesterday, mostly retail bullish again.
 
Quote from Spectre2007:

my gut is telling me market doesn't feel right... were at the wrong point on a macro cycle to have the bid sustained.

basically the higher prices are giving investment banks hedge against a 'scare' popping the VIX at 38.

got a lot of calls yesterday, mostly retail bullish again.
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In response to this and your other posts, I'm thinking along the same lines. Today (Wednesday), suddenly everyone is all warm and fuzzy thinking the Fed is going to save the day - stop a recession, clean up the credit mess, insert whatever else ails us here. "Its a foregone conclusion", "the Fed will lower as far as necessary", "we're going back to 1% fed funds rate".

Ok......if everyone got religion today and believes the Fed is in full easing mode.....and breathed a giant collective sigh of relief over the economic future.....all that euphoria, and all we could muster was +300 in DOW and +40 in S&P....and the backdrop on all of this is an economic slowdown that from all sources is saying a sustained decline.
 
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