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

Stocks Manage Gains on Weak Volume, Crude Oil Retreats


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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.

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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] […]

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