Big short squeeze going on in oil this morning. Oil blew through $65 resistance and is at $66.02 as I type. Many of the CNBC "experts" were saying get short "in size" at $58 but the longs like myself are squeezing them hard right now. We should hit the $70 pt soon then I might peel back some of my DXO but until then I will let it continue to ride. Right now it's $4.20 in pre-market.
As for the market, key economic data is due out, specifically the GDP number and Chicago PMI index. The PMI should carry more weight but if both are good, we are gone!
For small caps, I like energy related plays. I will buy back PLLL today and may add GU. Both I will try to snag at the open, unless I change my mind. I got about 25% cash position and I am ready to deploy it.
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Ha you love ripping those clowns on CNBC!
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