Well, oil is off $5 again and that has been what the bulls have cited as the major hurdle to higher prices. The bulls failed miserably yesterday. Will they try and rally em later? It looks like they want to, but it looked that way yesterday before the fizzle.Stay tuned. I traded MEE short at $72 this morning and covered at $69. I have reloaded at $72.20 with a tight stop. I’m placing a bet that they will take them down again later. I still don’t trust the financials and I am ready to reload short if conditions are right.
The beach is also an option.