We're really just trying to achieve a little bit of a balance between follow-through selling after Tuesday's big drop and a little bit of bargain hunting on the other side of the ring, trying to pick a bottom here.
Despite the surprise 1.3 million-barrel drop in DOE crude stocks for last week, inventories in the market remain near April 1999 highs.
I'm surprised by the drop in crude stocks and the further decline in crude oil imports,
The bulls are trying to put up a fight here, trying to make a case that the build in stocks and the drop in price over the past month haven't really hurt all that bad.