Well it didn't take long for Oil to hit that $130 number. How important is this???? Well I am sure not driving alot these days.
I expect us to hit that $138 number based on my fibonacci projections I did some weeks ago when we moved over $120. I will do another one later to see how far we can stretch on this projection.
In the meantime Financials looks lower especially GS, MER, FNM and JPM.
The only group I would play higher is the AGROS: POT, MON and AGU.
Also seem like the buying in the homebuilders is finally over and people are giving up that a bottom is in these stocks.
One sector to watch also is the semis: AMAT and BRCM looks weak
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