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Two Ways To Play: Will Crude Start To Cook?

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Strengthen your portfolio in good times and bad.

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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

Economics

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.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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