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The way the market traded last week, you would have assumed that Putin had surrendered, peace had broken out, and love was in the air. None of those things happened, even though it seemed like it, so I still believe commodities demand special attention in this environment.
The broad DBC fund broke above its long ascending channel, and even when it got beaten down, it seemed to respect the upper trendline of its channel as a support zone.
President Biden deserves credit for having so far avoided World War III. He has resisted calls to impose a no-fly zone over the Ukraine, which would lead to war with Russia, and he has clearly signaled he has no intention of fighting Russia.
(more…)Well, happy weekend Slopeland! I hope it has been a good start to 2022 for you. It has certainly been an interesting and profitable year thus far, which brings me to today’s post. I try to compose posts around what I perceive to be key turning points in markets, and I think our current market qualifies. Today, I want to try to bring some closure to what has been my baby of late… crude oil. I will also discuss interest rates, and the outlook for the S&P 500 for the remainder of the year. Let’s take a look!
Below is a one year chart of the monstrosity that has become crude oil. I have been heavily involved in the energy space for nearly two years now, coming off the Covid crash low. On Monday through Wednesday of last week I sold off all of my energy-related positions. Why did I do that, and what do I think is ahead for the oil market?
(more…)One seriously has to wonder why the Fed thinks inflation is running at about 2%. More like 40%, you clowns. Here’s what NICKEL did yesterday, which isn’t exactly a market one normally reads about.
