Yesterday, oil tumbled $1.60 in 20 minutes, but it closed up by $2.60 from the bottom. I haven't read the news. Maybe a short cover rally? I don't know why it just doesn't collapse and stay down. There's obviously a giant glut, and plenty of spare capacity ready to jump in as soon as the price rises. Anyway, I checked out the charts for the last 15 years, and it looks like a dream to trade. Have to take it more seriously. Just wait for volatility, then trust the charts and price action, rather than theories.
Europe was well up again last night. The talk has been that it's undervalued compared to US, and that earnings and economic growth are improving. Seems, the indices are following through on that sentiment.
US was up last night, but not as much as Europe. Funny to see Europe outperforming the US.
Yesterday, oil tumbled $1.60 in 20 minutes, but it closed up by...
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