FinancialAdvisor's College Class (FACC)

[FinancialAdvisor]

*Ander, at 10:16 am today, I made a post, put 3 stars next to it and it read "XOI - TAKE NOTE THAT IT'S NOT CONFIRMING OIL HIGHS HERE!!!" #msg-5940347

Now with that said, I am expecting that today was a "failed" high... A high without a confirmation. I called it early this morning, and even left a disclosure in their for a possible bull stance. At this moment, I'm short-term (slightly) bearish on oil and oil equities until proven otherwise. Yes I was slightly bullish out of the weekend, but I did point out that Mondays's action was potentially pivotal. I'm not taking a permanant bull or bear stance on oil if that's the impression you've gotten, what I'm doing is taking the right side of the market. So changing a stance is only to be on the right side of the market, not the bull or bear side.

On a side note, we saw the market rally into the close, albeit the volume didn't confirm off of Friday's, but it rallied nontheless. As scum to the market, I'm going to take this as a signal that today's false top in oil is indeed at least a short-term top. So there's my personal opinion. I will see how it responds tomorrow, and in the event that my speculation is right, then I will watch how it responds to the potential supports and pivots on the way down...

Anyone wanting to capitalize on this who may agree with me, may want to look into April put options or going short any oil equities they may see as "bloated," there's several out there and a lot of them even have unfilled gaps to the downside.

Today's movement in oil equties was lackluster and failed to confirm oil's high or even escalate into any potential parabolic surge, I'm bearish for at least the short-term at this juncture. So there you have it....

Peace.