Tuesday, December 15, 2009

USD/ WTI

To paraphrase my comment from Fri..... 
Lets pretend your bonus is not being taxed at 50%, or in long vesting stock....you've made a TON short USD / long oil.  It's mid Dec.,  Emerging markets and European sovereign's default risk is screaming up ....it's the day before DOE inventories.
What do YOU do?
                                           $DXY


Additionally the Crude is no longer oversold short term , and has had a chance to consolidate into the 4th wave of lesser degree and  the .236 retrace. It could go higher BUT can resume the downtrend at any point now.
WTI



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