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Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Oil Ain't Done

Oil is making new highs today. This keeps the energy rally (oil/coal/uranium) alive and increases the chance for a melt up. Assuming this move sticks, the failure of a potential "double top" pattern (a bearish technical pattern) is exceptionally bullish. I'm expecting a lengthy hangover from this oil rally but the punchbowl isn't empty yet.