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  • hector_cornholed_amders hector_cornholed_amders May 23, 2012 1:45 PM Flag

    A WallStreet Coup.

    BUT--Oil is crashing too and that will of course bring down gas prices here before the election.

    Gas at 2.00 dollars a gallon is good for the President.

    He gets the blame now but the credit should gas go lower. of course it is dumb luck but people are stupid.

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    • oil has been going down for one primary reason, it's priced in Usdollars.

      FWIW, the lows of the day for the DIA, and the SPY, pretty much matched the lows of last Friday. UUP daily chart shows a higher high, but a lower rsi, ditto the EUO (dbl short the euro), short term bullish for equities, notably gold stocks, some of which yield far more than INTC, ie GFI.

      as evident on Monday for the QQQ, late today on the DIA, SPY, QQQ, oversold rallies can be quick and rewarding, but there is now resistance on the upside, SPY 1340, so until that level is taken out with positive technicals, rising rsi.rising macd, rallies should be viewed with skepticism.

 
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