Yea...definitely missing something here...I feel it shouldn't be that hard to pull a stock's high/low over a specified time period. Crazy.
So what are everyone's thoughts on CL? I'm watching it trade in a range just under its monthly and quarterly A down. My NLs on it are basically flat lining but I'm catching some bearish momentum developing. I think it might be poised for a breakdown but I'm not trading oil. Anyone short?
I'm bullish longer term but my short term concern is there is too much dumb money long. Thanks to CNBC telling everyone every day this is the bottom of the 45 to 55 range. So you could see another flush. Fundamentally oil should probably be at 55. But the short term sentiment is really an issue here. The cracks have weakened a lot in the last two weeks which is a big bear item as well. Watch those cracks. They had a nice up day today. If they stay bid, we'll stay in this range. If they make new lows watch out.
I know this is a little elementary , but what about fading this XOP rally if it turns back down from the pivot at ~ 33.70?
You could fade at the monthly A up around 34.28. I'm long a bunch of XOP names as I think energy is so beat up.
any thoughts about the fixed income markets? Specifically what may develop tomorrow after the FED hike?....the past 5/7 years we have seen yields rise in q3-q4...i'm assuming this trend will continue since the FED will rase 2 more times and a recession wont happen before the next 12 months....any ACD red flags?
Mine are bullish on 5 10 and 30 immediate term and a long term value I'm researching right now is bullish on 5 and 10 and flat to bearish on the 30. I'm still studying my bond book so don't have a good understand of curves yet.