Spec Buy scalp: Conoco (COP (62.40) Feb '07 Crude Oil might start to bottom; Watch oils bounce

Rational: Oils appear ready to bounce although not without alot of hand-wringing. Severely oversold bottoms often come with lots of volatility as sentiment searches for stable conclusions about future stability. In other word, will oil drop further? Might we have a bottom?, etc.

Speculative buy scalp on Conoco (COP 62.40) with tight stop below yesterday's low.

Target: 63.20 (30 min Ema)
Stop: 61.25 (below yesterday's low)