Oil Up...Broad Indices Down in Early Trading

10:32 AM ET DJIA -55...SPX -5...Nasdaq -10...RUT -3...SOX -4...Oil +$0.88 Early Monday morning oil is rising. Oil was up over a $1 a barrel and USO was up over 70 cents in early trading. As we have been posting for the past four weeks the direction of oil is one of the major factors is the market movement at this time. When oil is down the market has a tendency to rise and when oil is up the market has a tendency to go down. It appears this morning is working perfectly with that relationship. As a result energy, gold, coal, steel and Ag-related stocks are on the rise this morning while the broad indices and many other equities are down this morning. If the trend holds then this could be presenting some entry opportunities as prices find support. If support is broken, of course trade accordingly. As always follow your trading rules. Here is what is moving in the early going on Monday. Monday's Early Action Moving Up: FMCN, ONXX, HANS, BRCM, POT, MOS, AGU, X, AEM, MON, ANR, BTU, MEE, IPI, SCHN, GDX, CLF, CNX, FWLT, CF, BUCY, DRYS, CLF Moving Down: PCLN, DECK, AMZN, IBM, SNDK, MS, RIMM, NDAQ, UAUA, LDK, NIHD, FNM, FRE, BIDU, GS, MER