Tuesday, May 13, 2008
The little gap up was faded and we are now headed south, seemingly towards the 5-day moving average around $139.50. I imagine we will find some nice support between there and $139, should we actually head that far down. Take a look at tick though -- we've been seeing many one way trades this year and cumulative tick is coming down sharply and yesterday's "recovery" volume was awfully light. Metals are off big time, but narrowly recovering.
Posted at 10:59 AM