CRUDE TECHINCALS

The crude reality is that the oil and oil service stocks have acted very well of late and better than crude which refuses to go below $58 and has a hard time gaining momentum above $60.

The OIH is up $3 plus to $141+ today and looks to be attacking its recent highs of $143+ on the way back to $150+ in my opinion. The XLE is approaching its old high of $60 and maybe into the mid $60's before the year ends. Just hoping that Cramer doesn't turn bullish on the oils.

And isn't is good to see that Ned Riley on CNBC is bullish and expecting the markets to go much higher. Oh and he expects oil at $40 a bbl. I wonder where all the perma bulls would have told us the markets would go if Oil went to $70+ and the dems took control of both Houses. No doubt lower but since it happened I am now bullish because I am always bullish regardless.