‘The big boys don’t know’ where crude is headed next…

From Ira Epstein via Yahoo News:

http://news.yahoo.com/-the-big-boys-don-t-know–where-crude-is-headed-next-223353756.html#

Here is the headline quote:

“The big boys don’t know. We’re in an area of uncertainty. And that area of uncertainty means don’t pay attention to them as much as you do to yourself and the charts and what you’re reading. Their benefit is to talk up their stock price, not what’s going on in oil.”

But here is the good stuff:

“You’re getting to a point where people are trying to pick bottoms,” he said. “When people start picking bottoms like this just because you’re at a number, be careful.”

He also says that you “can’t sell the breaks anymore” but you “can still sell the rallies”.

This is the “color” we miss from the days when most trading was done in the pits…

And, of course, the little guys don’t know, either…