Thursday July 5, 2012
Not much else to say that we did not say in the last two posts. Oh by the way, did you see the positive news on GM on page C 4 today in the WSJ, sales up 16%?
This is what I mean by a succession of orders at lower and lower prices. I am overweighted but I do believe oil is off to the races which means Energy Service is as well.
The markets are quite overbought on the hourly charts. This morning markets are still up. Whatever, such a succesison of orders has one prepared to enjoy lower and lower average prices. We still anticipate a summer rally in to Labor Day.