Oil Receives the Homo Hammer

July 22, 2008 – 12:40 pm

Short Oil continues to work, but for how long? Alternative energy stocks are getting killed take a look at [[FSLR]] & [[CSIQ]], however [[CLNE]] & [[GU]] remain in the green. Odd, no?

Has the game plan reversed course? Is it really long the banks, short oil?

One could buy an [[HK]] or [[CHK]] at these levels, but to me it make more sense to pick up a refiner here.

Are you a buyer of oil here?

Note: [[ENER]] looks next in line to fall, I’m all over it below the 50 MA.

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5 Responses to “Oil Receives the Homo Hammer”

Matt Says:

i think oil could test $115
July 22nd, 2008 at 12:46 pm
buylo Says:

caj- what is the 50MA for ENER? thanks
July 22nd, 2008 at 12:54 pm
RaginCajun Says:

50 day moving average is @ about 65.20. Below that, if oil cooperates, I will short the name.

Nice head and shoulders too.
July 22nd, 2008 at 12:57 pm
Matt Says:

ONXX
“high of day”
July 22nd, 2008 at 1:04 pm
RaginCajun Says:

top pick: short ENER
July 22nd, 2008 at 1:06 pm