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Wednesday, December 1, 2021

Oil - Testing Trendline

Oil was holding the trendline today. This may be a sign that markets are finding some support. It will be important to watch Oil to see how it interacts at this trendline. Daily

42 comments:

  1. SPX today near my 4,500 targeted level.

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  2. Oil actually held quite well today. GUSH the oil shares were pulled down even though Oil held.

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  3. GUSH of $75 I would be interested

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  4. "White House unveils nine-point plan to combat Covid this winter"

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    1. Well, let's see. Without looking at the plan I can guess one thing that is on it: Get the jab, get the booster.

      And one thing that is not on it but should be on it: Distribute 4000 unit Vitamin D capsules to everyone.

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    2. or stop eating so much, the obese and old are 91% of deaths...Americans are walking elephants, just look a picture of 1970 beach scene with today....

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    3. Exactly right unfortunately

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  5. XBI getting close, it is starting to get oversold.

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    1. if they don't fill the 95 gap it will languish and make you believe while taking your money....

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  6. I'll wait for the virus to multiply before I get back into volatility. The 50 day average for UVXY is still down so conditions not ripe just yet. Needs a little time. Warming up.

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  7. Are you interested in getting back into DWAC, after you sold all your shares yesterday?

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    1. I am interested and it may be good already but maybe I'll wait a few days.

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  8. Replies
    1. Tomorrow likely another positive day.

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    2. Hi Lou, Do you expect Santa rally as SC does? What's your forecast the rest of month?

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  9. XLF an BA are the rally, its a short covering rally of nothing....more banker tricks...

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  10. SPX will claw it's way back up in December Santa rally, but the character of the market has changed. It's becoming more active, wider ranges. A trader's market and a lot more fun!

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  11. Climb the wall of worry SPX as the rogue virus seeds the country.

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  12. The reason we had selloff yesterday is because it's a creepy crawler feeling of disgust. People are disgusted by the virus on their doorknobs and hands and don't buy stock. The buyers dried up.

    This is different than last year. Last year it was a panic. That was the fear of death which is a stronger emotion and thus was a waterfall.

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  13. I'm not convinced a bottom is in. It's most often marked by exhaustion candles.

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  14. DIDI the China ride sharing company that China demanded to delist from the US is agreeing to delist from the NYSE. It and other China stocks like BABA, PDD and BIDU are sinking.

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  15. Chinese stocks listed in the US are based on a VIE structure. They do not own any real equity in the actual Chinese companies.

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  16. sc,

    Monthly support is 4500 (4995)if we close below the level today---the monthly support for December --will change to SPX 4230

    That is one hell of a ride--Lets see what it does at the end of day

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  17. sc,

    did UVXY pass the golden cross -----looks toppy here!

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  18. VIX finally got the golden cross. Also looks like bull pennant forming.

    VIX 45 possible?

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  19. Chinese stock I've thought they could announce to delist all of them. Could result in massive gap down for Chinese stocks.

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  20. it also killed a lot of Technology companies

    vix ---goes to 45---where does UVXY go to?

    give me a range???

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  21. "WHO says Covid omicron variant detected in 38 countries, early data suggests it’s more contagious than delta"

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  22. Uh oh

    WASHINGTON, Dec 3 (Reuters) - "A hoarse-sounding President Joe Biden said on Friday he has a cold, possibly contracted from a grandson."

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  23. sc

    I have been buying UVXY since 14 going in and out ---now at 25 --there is a buy on it---Understandable!

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