Oil is under pressure, but both bulls and bears seem skeptical. First, an oil bear and stock bull. Don Hays of the respected institutional service Hays Advisory put out this powerfully incisive comment : "It is very hard for any of us in the Strategy Business to say the word recession, but the yield curve has now been saying that was in the cards for the last few weeks. The Dow Transportation Index is certainly confirming economic weakness."... Cheers!!
Thanks for sharing that. I'll read it when I get a chance. I was thinking about the "R" word the last couple of days and found it interesting the market is so bullish. Seems to be whistling past the graveyard. But I'm just an observer of market action. I do have ideas about what's up in the greater economy, outside the market, but try to not let that weigh too much on, and interfere with, my trading decisions.
just to clarify. don hays is not bearish. he recently took 10% to cash as a profit taking step,but he is calling for a major rally after the elections.
There you go. Well we'll see what happens. I haven't read the blog yet. But now I see the link's gone. Oh, well.