Re: Big wall to take out @$5.00 / Spiderman
posted on
May 20, 2008 04:08PM
Not that I know for sure but the short answer is No. I think a lot of retail investors and maybe a few institutions put those $5.00 ask prices up early not thinking it would be reached anyway, which it wasn't. They would be happy in taking a profit at that level. Oil price is a little scary right now,IMO, because of the straight line up. Some guys might take some off the table and wait for a dip, if there is one in the CLL SP. Look for that wall to disappear quickly if the Oil price continues up tomorrow.