Every time I think we may be turning the corner we get smacked in the face. When we move up it's limited, and when we move down we get crushed. This sector is about as out of favor as possible at the moment. It could mean we are near a bottom. I sure hope so because it's getting really ugly. I try to avoid looking at my account.
Euro GDP comes out tommorow and oil inventories I believe are on Thursday. Yes, every week now we have oil inventories so the boys can find more reasons to push around the market.
It seems right now that bullish news has no positive effect on the market. They keep singing the same song about decreased demand etc. etc.