Cusick’s Corner 09-10-2012
Oil challenged the 200-Day SMA but could not break it and the sellers took charge into the After Hours. This happened on Friday into the close when we reached new highs and pushed back. Right now the upside is extended and the rationale is that the long entrant might be having a hard time at these levels justifying a buy. The VIX did pop, +11%, but still hard to pick a bottom at this point. See you Midday.
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