A trading friend of mine send me this on Sunday evening…………
The implication being that since DG was mighty skeptical about the entire OPEC deal, that oil would probably rise (in contrast to DG’s speculation). Sure enough, as I woke up this morning:
It’s really a shame, too. Energy companies are some of the most exciting looking setups around, but it’s going to be tough to get serious weakness if oil keeps sailing higher on the resolve of the cartel. For what it’s worth, here’s what the energy sector in general looks like:
