The stock market dropped like a rock after another Oils rally. The barrel prices are now around +40% year-to-date. Also bearish comments from the Fed contributed to the drop. Major indices are showing signs of short-term oversold conditions and the chance for a bounce seems to be good. Nevertheless, the bounce should be short lived, above all if the Oil continues its run. "Take profits off table as quick as you can" continues to be a must right now. Here [...]
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[Source: The Money Blogs]
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