Zeev's Turnips Patch-No Politics (ZEEV)

[Mapleton]

Why I'm glad oil is rising.

This happens everytime and people always get bent out of shape when oil rises. Oil rarely sustains dramatic spikes in prices, like we've seen in the past few days. This recent rise in oil prices was caused by nothing but fear. Fear for Yukos and fear for terrorist attacks on Saudi pipelines. This recent rise will not sustain. I expect to see US crude back below $40 a barrel within 4 - 6 weeks, this will give the market time to breathe and allow it to unwind it's oversold condition.

The chicken-littles can squak all they want, I'll be waiting to profit from the rebound like I always do. I am currently short term bullish and I am currently searching for a stock that will follow through on a coming rally. My previous MSFT short position stopped out for a minor profit several days ago.

I am currently waiting for a Nasdaq short term double bottom at 1830, then the rally may proceed.