Chris Lau - Seeking Alpha

Wednesday, June 25, 2008

Oil has been in the headlines for months now. A bubble has clearly formed, but like all bubbles, a pop is always unpredictable until after the fact.In reviewing the chart for the OIH, one can already see the MACD diverging from price. This implies at least a short term correction in oil. As such, a short is in order. At minimum, a SELL in oil is also in order.