Friday, July 16, 2010
Phil Flynn: Capped!
Of course what traders really want to know if the upside in oil is capped? Over the last few days the oil market seems to have taken a leadership role in leading the stock market higher and the rest of the world lower. As of late oil traders are taking a more skeptical take on the global economic recovery because despite the slew of good feelings that permeated the marketplace to start the week in the oil patch the facts just does not back those gushy feelings up. The week of old fashion supply and demand fundamentals for the oil market does not bode well for the upside of the oil market or for the economic recovery over all.....Read the entire article.
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