FinancialAdvisor's College Class (FACC)

[FinancialAdvisor]

Thanks mick, (on *OIL) didn't see it, I'm still in the camp that oil has a big shake-out here. I turned partially bearish last Monday morning when I noticed the oil stocks diverging from the price of oil and not confirming that recent record high. That short-term bearish stance was confirmed later in the week.

In technical terms, oil is bearish until it proves us otherwise. Looking for a test of the 200 day SMA once/if the 50 day SMA is broken, and I wouldn't be surprised to see oil shakedown all the way into the low 40's... if a healthy bottom is obtained here in oil though, I will turn bullish again and reinstate a $69 target on it! The chart is already long-term bullish with the recent record highs being confirmed 3 seperate times between last October, and the past 2 last week and back in March...