Sentiment has definitely shifted in the oil patch. It is getting much colder in the northeast US very soon as the winter already arrived in Europe. Fundamentally it is questionable how much it should affect the prices, but on a psychological level it does matter. The strategy of buying at dips is working. The time to buy today was right after the numbers were release when WTI was down some 1.5%. We ended the day up, well above $55.
GS is really breaking up here, posting a new ATH today. Fundamentally this stock has to be bought on dips. A strategy would be to get long Deep-In-the-Money calls.
Google crossing $500 after hours, getting the last push from eBay's report.
As for the major equity indices, I would not get long at current levels.
We are finally seeing some weakness in USD, something I have been looking for lately for a contrarian trade.
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