Posts Tagged ‘Strategic Petroleum Reserve’

Thrilling Thursday – Will Jackson Hole Give us S&P 2,000?

SPY 5 MINUTEI could take today off.  

Why?  Because I already wrote this article last month, on a Thursday, when the S&P was at 1,988 and topped out at 1,991, which was $199.06 on SPY and, as you can see from Dave Fry's chart, SPY topped out at $199.16 yesterday (before plunging back to $198.90 on strong volume into the close).  

Will this time be different?  I certainly hope so because last time, we plunged about 5%, back to 1,904 over the next 10 sessions and it's taken us another 10 to claw our way back for another attempt at an all-time high.

In our Live Member Chat this morning, we shorted the run-up in the Futures at Dow 16,990 (/YM), S&P 1,985 (/ES), Nasdaq 4,045 (/NQ) and Russell 1,155 (/TF) because, as I said to our Members:

I'm sorry but I simply can't reconcile this news with what's going on in the markets so I'm going to continue to lose money hedging to make sure we keep what we have.  The alternative is going to cash but there is simply no way I can endorse getting more bullish on this market at this point.  

NDX WEEKLYOne major difference this time is we DON'T have money flowing out of SPY (as much), as we did last month and we DO have the Fed's Jackson Hole conference tomorrow, which looks to Global Investors like a Santa Claus convention with Yellen, Draghi, Carney and Kuroda sitting under the spruce trees with gigantic bags of FREE MONEY – and that's why traders are as giddy as kids before Christmas this week.

But, Virginia, is there really a Santa Claus, or are the bulls hopes and dreams about to be crushed by cruel economic realities they have, so far, been avoiding like the plague (or Ebola)?  Realities like China's horrific PMI this morning, that dropped from 51.7 to 50.3 (barely positive) and France's PMI, which is back in heavy contraction at 46.5 this morning.  Retail Sales…
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Thursday Thrust – Rent-A-Rebel Pops Oil Over $106 Just in Time for the Holidays

The boyz are back in town!  

By boyz, I mean al-Qeada and by town, I mean Tikrit, which is about 40 miles from Baghdad which has "dad" in it and Father's day is Sunday so now you are all caught up on the Middle East.

Oh, and that's not picture of the rebel attackers – that's a picture of the Iraqi "army" mounting a response to "dozens" of rebels who came into town "a hootin' and a hollerin'" and shooting up the place.  As I pointed out to our Members, with 200,000,000 fake orders for July oil deliveries that have to be canceled by next Friday – all it costs is $10M to pay al-Qeada to cause a ruckus and oil pops $2 overnight and the contract holders make an extra $400,000,000 – a very nice return on their investment.  CNN had footage of the attack:

 

As you can see, the situation is dire – until they get a new sheriff.  Meanwhile, oil is over $106 (7:45) and it was over $106 earlier and we shorted the cross below the line in our Live Member Chat room at 6:37 and picked up a quick $250 per contract at $105.75 and we'll short any cross below any .50 line with tight stops above on the way down – as, eventually, there will be a new sheriff – or at least a shareef

At the moment, oil is back over $106 and we're ready to re-load (at $106.50 with very tight stops).  As we did yesterday, we're happy to make $250-$500 per move as it wriggles around in the channel.  You can't beat these guys – may as well join them!  

We'll likely add USO puts or SCO (ultra-short oil) longs to our Short-Term Portfolio with an eye towards oil going no higher than $110 into the July 4th weekend (as we discussed in Tuesday's Webinar) but failing to hold that, or even $105, for an extended period.  Meanwhile, we'll keep an eye on the advancing al-Qeada forces as our Corporate Media makes the biggest possible mountain out of this mole-hill to justify their sponsors jacking up the price of oil – AS USUAL – into the biggest driving…
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Phil's Favorites

Goldman Sachs and JPMorgan Have Flagrantly Flaunted the Volcker Rule for Nine Years: Now It's to Be Gutted by Federal Regulators

Courtesy of Pam Martens

Two of Wall Street’s crony regulators announced today that they are going to “simplify” the Volcker Rule’s ban on proprietary trading at Wall Street banks, providing another big win for Wall Street and another big nightmare for Main Street.

The financial crash on Wall Street in 2008 was the deepest economic upheaval in the U.S. since the Great Depression. Millions of honest, hardworking ...



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Zero Hedge

Famed IPO Analyst Call WeWork Prospectus "Masterpiece Of Obfuscation"

Courtesy of ZeroHedge View original post here.

Last week, when WeWork filed its highly anticipated prospectus for the upcoming IPO that seeks to value the company as much as $50 billion, we shared the one chart that summarized - we thought - all that was wrong with the company: the fact that even as revenue has risen, and it has to rise much, much more for the company to ever grow into its massive valuation - it has burned ever more cash.

...



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Kimble Charting Solutions

Steel About To Breakdown And Send Bearish Economic Message?

Courtesy of Chris Kimble

Is the Steel Industry suggesting that a recession is nearing? In my humble opinion, the jury is still out on this one.

This chart from Marketsmith.com takes a look at the patterns of Steel ETF (SLX).

SLX has spent the majority of the past 3-years inside of trading range (1). The persistent decline over the past year has it testing the bottom of this trading range at (2).

The weakness over the past year has it below long-term moving averages as its relative strength r...



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Insider Scoop

Economic Data Scheduled For Tuesday

Courtesy of Benzinga

  • The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.
  • San Francisco Federal Reserve Bank President Mary Daly is set to speak at 4:30 p.m. ET.
  • Federal Reserve Board of Governors Vice Chairman for Supervision Randal Quarles will speak in Salt Lake City, Utah at 6:00 p.m. ET.

Posted-In: Economic DataNews Economics ...



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The Technical Traders

The Next Breakdown And The Setup

Courtesy of Technical Traders

If you’ve been following our research long enough, you’ll remember that we often discuss Fibonacci Price Theory and how we use it to try to identify opportunities and trends in the markets.  The basic premise of Fibonacci Price Theory is that price is always seeking to establish newer highs or newer lows with every rotation on the charts.  The theory is rather simple to understand and learn and it helps easily identify where support, resistance, and the trend is established.  Let’s take a minute to go over the basics of Fibonacci Price Theory before we continue.

This first example of Fibonacci Price Theory trend is a simple example that highlights the basic premise of the the...



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Lee's Free Thinking

The Treasury Supply Drumbeat Has Begun

Courtesy of Lee Adler

The beat goes on. The US Treasury announced a 30 year TIPS issue today, bringing net new Treasury supply for the month so far to $119 billion. 

Here are the details:

Term and Type: 29-Year 6-Month TIPS

Reopening: Yes

Offering Amount: 7 Billion

Announcement Date: 08/15/2019

Auction Date: 08/22/2019

Issue Date: 08/30/2019

Maturity Date: 02/15/2049

PDF | XML

Supply will pound the financial markets to a pulp as far as the eye can see. Those who are currently panicking to buy Treasuries at these ...



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Chart School

Bitcoin 2019 fractal with Gold 2013

Courtesy of Read the Ticker

Funny how price action patterns repeat, double tops, head and shoulders. These are simply market fractals of supply and demand.

More from RTT Tv

Ref: US Crypto Holders Only Have a Few Days to Reply to the IRS 6173 Letter

Today's news from the US IRS has been blamed for the recent price slump, yet the bitcoin fractal like the gold fractal suggest the market players have set bitcoin up for a slump to $9000 USD long before the IRS news hit the wire.

Get the impression some market players missed out on the b...

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Digital Currencies

New Zealand Becomes 1st Country To Legalize Payment Of Salaries In Crypto

Courtesy of ZeroHedge View original post here.

Bitcoin and other cryptocurrencies have been on a persistent upswing this year, but they're still pretty volatile. But during a time when even some of the most developed economies in the word are watching their currencies bounce around like the Argentine peso (just take a look at a six-month chart for GBPUSD), New Zealand has decided to take the plunge and become the first country to legalize payment in bitcoin, the FT reports.

The ruling by New Zealand’s tax authority allows salaries and wages to b...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Biotech

DNA testing companies offer telomere testing - but what does it tell you about aging and disease risk?

Reminder: We're is available to chat with Members, comments are found below each post.

 

DNA testing companies offer telomere testing – but what does it tell you about aging and disease risk?

A telomere age test kit from Telomere Diagnostics Inc. and saliva. collection kit from 23andMe. Anna Hoychuk/Shutterstock.com

Courtesy of Patricia Opresko, University of Pittsburgh and Elise Fouquerel, ...



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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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