I would think CEG, or any other oil-related stocks for that matter, is largely dependent on the oil futures. Right now, the March 08 Sweet Crude is up against the trendline. Will it punch through the trendline or will it backpedal from here?
Although nothing is definitive, we might see a pop going into the close. If that were the case, then we could see more rallies coming throughout next week. This would be the classic "buy the dip" scenario. But since we have the long weekend ahead, it's also possible to see the market selloff just before the close. But as long as the LOD holds, the market should be on safe ground.
There ya have it boyz (and galz). The market pushed up towards the close, refusing any selling pressure. Since there ain't any economic numbers due on Tuesday, I think the market will likely gap up.
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