Oil, what is going on?

I am not going to talk about the difference between the front month oil contracts and the Nov ones. But I did find that the strength in crude was very weakly reflected in energy stocks. Crude was +6% today, which is a pretty big move, yet OIH was -.1%! What does this mean? Well, it means that the energy stocks were being thrown away with the rest of the market.

I had a great time going long coal today, and thankfully I am a day trader and took my profits as soon I got them. As oil hit the high of day (HOD), coals really began to rally. But soon they were pulling back, nice and healthy. Until they gave most of it back and closed pretty flat! +6% oil, and flat coal stocks?

My guess is coals will be choppy here. Don't be long, don't be short. Play intraday swings. Don't buy break outs, don't sell break downs. Buy the dips with small size and sell the rips.

Also, something has to be fixed here. Oil can't keep going up with the oil stocks, so which will correct? My guess: crude is headed back to the mid 90s. Expect the 'world slowdown' story to pop up again as a reason for crude to head lower.