Finally bounced

We finally got the bounce off the tarp news. We will see this morning if this rally has legs. This market remains annoying as it is nearly impossible to build postions with time frames longer than a day which makes it hard to recommend individual setups. I will continue to play a rally but won't hesitate taking profits quickly.
One thing to keep in mind is the oil contract expires on Tuesday and Monday is a holiday. Over the past few months oil has rallied up as the contract expired with the next contract already trading at much higher levels. That makes hlding positions through the shift in contract a bit more risky.