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Two Ways To Play: Will Crude Start To Cook?


Strengthen your portfolio in good times and bad.


Crude Near a Bottom?

Is crude near a bottom? According to fund manager Daniel Bruno Sanz it is.

Not only is Sanz calling for a bottom, reports Bloomberg, but using Demark Sequential Indicators applied to the weekly chart, he's predicting oil will rocket to $93 a barrel within the next few months. The timing coincides with peak driving season in the US - May and June. Crude's "almost vertical fall," says Sanz, is "completely overdone."

Jeff Saut mentioned his thoughts on crude oil in Short-Term Uptrend For S&P.

From the Bull: Oil bulls can consider Schlumberger (SLB). One option is to play with an initial position and a tight stop below its 52-week low (37.24).

From the Bear Cave: Bears can consider Monsanto (MON). One option is to wait until the stock approaches its 50 DMA (near $80) before initiating a downside position.

Quick Check Around the World

Asian trading closed with the Hang Seng -2.75%, Sensex -2.43%, Taiwan -2.86% and Shanghai -4.55%.

Glancing towards Europe, we see the CAC 0.02%, DAX 0.33%, FTSE 0.43%,

As of 8:00 a.m. EST, S&P futures are trading +1 to 871, and Nasdaq futures are +1 to 1189.

A Look At Commodities

Crude oil is trading +0.31 to 40.220 Gold is unch at 847.200. Silver is -0.105 to 10.755, and copper is -1.850 to 132.70.

The dollar index is -0.178 to 81.900.

On the Radar


08:30 GDP QoQ -0.5%
08:30 Personal Consumption -3.7%
08:30 GDP Price Index 4.2%
08:30 Core PCE QoQ 2.6%
10:00 U. of Michigan Confidence 58.6
10:00 New Home Sales 415k
10:00 House Price Index -1.3%
10:00 Richmond Fed Man. Index -40

Click here for the full trading radar.

Good luck today!

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No positions in stocks mentioned.

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