As we close out September, the bearish month of the year (ha! woo ha! ha ha ha!) and, in turn, the third quarter, let’s see where the big indexes stand percentage-wise in 2017. Here’s the Dow Composite:
Oil, as represented by the USO fund below, had been inside a symmetric triangle for many months. It had broken beneath it, but it’s managed to claw its way back up inside. The dividing line is at $10.70, which is just about the midline of the triangle. Breach that, and oil will gather even more strength. Fail to do so, and it’s at risk of slumping beneath this large pattern again. I remain bearish oil and short energy stocks. I also own January puts against XOP.
I am terribly excited, because for the first time since 2004, I am going to have an honest-to-goodness full-time employee. His purpose in life is simple: SlopeCharts. As you can tell, I’m very committed to this product. It’s been very quiet for a couple of months now (very stable, but no new features), but that’s about to change.
I have a notebook full of goals and ideas, but I’d really like to get a sense directly from you, the user, about what you’d like to see next, what you wish SlopeCharts had, or maybe what would have made you keep using the product (assuming you tried it and didn’t stick with it). This will only take a minute of your time, or less. Thanks!