Bil has two areas of resistance first at 250 and next at the previous high 258. Both the RSI and stochastics are approaching over bought areas(not to say that they can't stay here and make new highs) the possibility therfore exists that this gap on friday is an exhaustion gap. If I were looking to go long on BIL I would wait for it to break the previous high with good volume or better wait for it to pull back to this area of support and hold above this level before taking off on the next leg of the upside (form a high base). Given that the TOP 40 is still in a down trend, going long BIL at these levels after the run its had is not advisable. Thursday is the day and you never hold a share over earnings or anouncements. So unless you want to be in the market for two or three days and hope to get 5 or 6 % at high risk I wouldn't and wont be buying BIL now.
