Still Focused on Crude

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Happy Friday the 13th, everyone.

I’m still almost completely focused on crude oil for the overall direction of the market. The good news, for me, is that at least it seems to have stalled out: 0513-cr

If crude begins to weaken in any meaningful way, I think you’re going to see the high-yield ETF start to crumble again, which could be one of the great trades of 2016.0513-jnk

So as I’m typing this the ES, NQ, TF, and CL are all red. Are you worried about this formerly great republic of ours? Not me. Because Obama has his arms around the big issues our nation faces:

0513-bath

At dinner last night, a certain family member mentioned the above and declared Obama “the greatest President we’ve ever had.” Through clenched teeth, I asked if she actually meant for the entire history of the United States (ya know, including Lincoln, FDR, Washington) to which she replied yes. So I think I’ve been a victim of microaggression at this point. If you need me, I’ll be in my safe space.