Replies to post #28963 on The Black Box

[dieselfuel]

"big drop coming in oil IMO"

Do you plan on shorting oil?

[CaribbeanJim]

mjk, that is the way I see it too, however, a close below 2240 would negate my bullish opinion and I would go to cash.

I see that the short-term Nasdaq and NYSE McClellan Oscillators ($NAMO and $NYMO) are near a bottom. If we have a big down day today, we should at least get a good size ST bounce which may be the launch that all the bulls are looking for.