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Pacific Gas & Electric has been hammered by fire liability concerns, and it is priced at the same level it was in 1998. It is down 75%, and this includes adjustments for dividends. But, hey, 1998 wasn’t so bad! The government was running a SURPLUS and we were about $16 trillion less in debt!
Down, down, and then down some more.
As for the equities – – let’s strap ourselves in! I am (for me) in RISK OFF position, with 135% committed (when I’m super aggressive, it’s over 300%). It’s going to be quite an evening, everyone.
First of all, gold and silver members should know that an updated post about the coolest and most amazing chart I’ve ever done in my life is awaiting you; by now, you should have received an email bringing that to your attention.
A few weeks ago, in the aftermath of the revelation that Saudi Arabia likes to chop up bodies of journalists who threaten their regime, the “experts” were breathless with price projections.
Crude oil has been sailing above its supporting trendline for a couple of years now. I am, of course, watching with great interest to see if we get a break of that uptrend.
I’m totally nerding out this weekend on Slope, polishing up the site, adding videos – – the whole Labor Day schtick. In a way, I am re-discovering some of the cool stuff about my little creation. For example, I was just doing a video on the Future Trend feature, and I was quite surprised to see the fascinating sine wave projected for oil. If this is anything close to what’s going to happen, it could mean all kinds of interesting setups! I’m quite short energy stocks now, so I’m particularly pleased.
Judging by the ES and NQ, it seems the world has already moved on from the big political news about Manafort and Cohen. BTFD to infinity!
So let’s turn our attention to crude oil, which is up over 2% this morning alone. This certainly seems to be the bulliest of the bullish:
Quite a day so far! As I am typing this, the SPY is down 1/10th of a percent, the QQQ is up about 3/10th of a percent, but my all-short portfolio is up 1.4%. I’ve got a variety of energy shorts, and I am watching this trendline with great interest to see if it breaks:
