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Local ovesold condition in energy index

Started by pkamm, 09/13/2006 11:44AM
Posted 09/13/2006 11:44AM Opening Post
JMHO of course. But I've tripled my oil-related holdings in the last 48 hours after lightening up considerably some weeks back. It looks like a local oversold low point both in the XLE and in several of the underlying commodity charts themselves. Good buying point if the overall uptrend doesn't actually break -- which of course is possible if we tip the world into recession and demand suddenly tanks.