Gusher! Oil, Oil in….

Posted on Oct 16, 2009 by WHC Bassetti in Letters

OIL. As many readers have pointed out OIL has broken out of a triangle and we have a clear buy signal. But frankly we think the oil rush is over. The probability of oil returning to its former heights are slim and none. This is now a trading market and the probable move here is six or seven points. We might buy two units of it and sell one for a trade when that is achieved and keep the other as a trend trade.

This is only a preview. You must be a subscriber to access the full text of this letter.