Not much has come up to sway this blogger from being a Bear.
Yeah, we’ve rallied a bit. BUT, there’s little volume on the move, which equates to little conviction. Let’s call it a lack of Bull-ume. There – I said it. Bull-ume.
Just a week and half of trading till the month is over. Anything could happen, but it’s likely we’ll see more of a trend take shape as we move through this key month of fund positioning.
Only open position here is long USO March 20 Calls. Still no durable bottom we can recognize. Though the technicals suggest we’re not likely far.