It is always interesting to keep track of headlines of influential websites. Basically my strategy as a trader is never believe in the news!
Ha, you may ask, "Then why did you keep track of the news if you do not believe in it?"
Well, after years of trading in the US market, I discovered that whenever the stock market has a great run, market makers or big boys, who manipulate the market, will try to create bad news to bring the market down. Now that Greece problems die down temporarily, they NEED to try to find new STORIES to scare the market. It is their only way to play against the market!
RISING OIL PRICE may be used now. See the headlines over the weekend in marketwatch.
Knowing their latest strategy is very important! That is how we think and play like them! The Europe story has been going on for so many months, they need something new. Oil is great for them now.
So what is the strategy for us now that we know their mindset???
My suggestion is you may want to buy oil related stocks or Oil related ETFs like "OIL", "OIH" or "USO" in US, or basically trade OIL FUTURES to hedge your positions against stocks.
I have been trading OIL Futures through my Forex broker and make some money after Light Crude breakout of 5 tops as mentioned a few weeks ago. It is flying now!
Check the 5 tops in my blog below:
http://www.danielloh.com/2012/02/will-light-crude-oil-break-out-of-5.html
Rgds
Daniel
