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Fade to Black

The markets started strong yesterday then faded, but ended slightly in positive territory yesterday. Again that tug-o-war, and again, we are seeing oil prices skyrocketing for no reason other than greed, in my opinion. As the world largest consumer of energy products, the American consumer is really at the mercy of the greedy oil cartels and now institutional oil traders. It just makes me so angry to see how the markets are so easily manipulated. Oil up again at $73 a barrel by noon yesterday.

The ProShares Technology Fund (NYSE ARCA:ROM) experienced heavy trading but also lost steam in the last 30 min of trading yesterday. Here is a great 2 day technical chart of the fund in a short burst to the upside. Pinpoint the buy signal price if you can.

Correction: Barclays Global Investment Unit which includes the iShares portfolio was sold originally to CVC Capital partners for $4.4 billion but Barclays, PLC renegotiated a better deal with US fund manager Black Rock, Inc for $13.5 billion which recently closed.
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