Online Stock Trading | Stocks Manage Gains on Weak Volume, Crude Oil Retreats

Stocks Manage Gains on Weak Volume, Crude Oil Retreats


Filed Under Market Commentary |

Crude Oil hit $135 overnight Wednesday night only to pull back and close under $132 Thursday afternoon.  This helped fuel gains for the day.  However, traders weren’t as interested to pile back into stocks as volume subsided across the board.  A sign of weakness most definitely, but the wounds from high crude oil prices are still open.  There was no conviction in the move and look for lower prices.

I wouldn’t be going long any stocks at the moment.  It appears that any strength will be sold.  Even laggards are being sold, its a tough environment to make any money in this market.  Bigger question, will crude oil destroy this market?  Are we going to see the super spike? 

Looking for my crystal ball.

Market Speculator

Last 5 posts in Market Commentary

Share and Enjoy:
  • Digg
  • del.icio.us
  • Netvouz
  • description
  • ThisNext
  • MisterWong
  • Wists
  • Bumpzee
  • StumbleUpon

Comments

One Response to “Stocks Manage Gains on Weak Volume, Crude Oil Retreats”

  1. Stocks Manage Gains on Weak Volume, Crude Oil Retreats | Investors Paradise on May 23rd, 2008 12:08 pm

    [...] I wouldn’t be going long any stocks at the moment.  It appears that any strength will be … [visit site to read more] [...]

Leave a Reply