Wednesday, August 20, 2008 10:04:44 AM
1.) oil and gas futures pricing significantly up +1% to +2% this morning, a sign of a reversal
2.) Financial stocks back down, pulling back after its July surge, which is another sign of reversal and confirmatory evidence that there is stagflation.
3.) Oil and gas operations stocks pricing higher today, Energy sector is green compared to others being red
4.) Airliner stocks (UAUA, NWA, DAL, LCC) pulling back and reversing into decline, another confirmatory sign of evidence that Energy stocks will return to higher pricing here.
We need to realize that since July 15th until today, the financial stocks and airliner stocks dominated the market and were all up about +40% despite their large market cap due to the fact that there was a pullback in energy commodities. Yesterday and today represents the reversal point.
I trade, therefore I am.
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