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Stocks Manage Gains on Weak Volume, Crude Oil Retreats

May 23, 2008

Crude Oil hit $135 overnight Wednesday night only to pull back and close under $132 Thursday afternoon.  This helped fuel gains for the day.  However, traders weren’t as interested to pile back into stocks as volume subsided across the board.  A sign of weakness most definitely, but the wounds from high crude oil prices are still open.  There was no conviction in the move and look for lower prices.

I wouldn’t be going long any stocks at the moment.  It appears that any strength will be … [visit site to read more]

Stocks Manage Gains on Weak Volume, Crude Oil Retreats

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