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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