Category Archives: Analogs

The Alcoa Analog

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I’ve pointed out in prior videos the incredible similarities Alcoa (symbol AA) has been painting on its chart recently compared to the prior peak in 2007. This is continuing to play itself out beautifully, with the prospect of much lower prices to come not just over the next few hours, but perhaps years:

0409-aa

Duck, Duck, Goose

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Wednesdays before expiration (especially on FOMC days) are special days.

Volume is split between 2 contracts.  We have stops getting killed on both sides of indecision, and then a lot of chop, chop, slam….  chop, chop, slam….  It reminds me of the old Duck, Duck, Goose game.  Only this time, retail stops are left holding the bag and can’t find a chair or get a break.

The witching hour appears to be the hour going into oil pit close.

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Still Crude: EIA, EIA, oh

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Old MacDonald had an oil farm, E-I-A, E-I-A, Oh!
With a stop run here and a stop run there,
here a stop, there a stop, everywhere a retail stop, E-I-A, E-I-A, Oh!

Wednesdays are Prince Spaghetti Day.  They are also when the US Energy Information Administration releases its weekly petroleum status and crude oil inventories (except during holiday weeks).  Check out the last 3 EIA news scam days.

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