Category Archives: Energy

Tapping the Brakes?

By -

Since it seems the fate of the free world depends on this stupid healthcare vote, let’s talk about something – ANYTHING – else!

Below is the front month of crude oil. As much as I’d like it to plunge into the abyss, what I “like” doesn’t have much say-so in market direction. It seems to me that the commodity is steadying itself at the trendline and could be preparing for a turnaround back to major resistance at about $52.30 or so. Just a thought.

0324-crude

For equities in general, though, I would simply offer this headline on ZH that just came up:

0324-gart

A Couple of Thoughts

By -

We all have to sit around and wait for the old biddy to show up at 11:00 a.m. PST (2:00 p.m. EST). Well, she doesn’t actually show until half an hour after that, but the big announcement (e.g. “up another .25%”) is slated at the top of the hour. Here are a couple of charts to contemplate as we circle above the airport………

First off, the NASDAQ isn’t exactly participating in this morning’s equity rally with a lot of gusto; I continue to contend that the broken trendline means something:

0315-nq

(more…)

Rocking with Energy

By -

Back on February 10, I wrote a post called Lake Erie, and I did a post for my beloved Slope Plus members called Return to Lake Erie, in which I suggested that energy stocks were going to head lower, and noted I was going to buy the triple-bearish ETF symbol ERY (my precise words on February 10th were Yesterday I start accruing a sizeable position in my IRA account of ERY, the triple-bearish fund based on energy stocks. So far, so good.) I would say this has been going pretty well, as the arrow “buy” point reveals. We’re up about 25% since then.

0314-ERY

I confess to getting a little nervous with crude oil approaching a fairly important trendline, but I’m just going to tighten my stop and hang on. Congrats to others in this trade.