Finding the edge in analyzing unique market Cycles.
This chart was posted for a number of reasons.
When a driller RIG hasn't been able to make a higher high in February despite a big run in Oil this month it's a bad sign.
Because it is lagging so far behind RIG actually may be a candidate for a pop but it is clearly hitting against resistance. Could be a worthy scalp trade. Earnings are due on Monday.
We did well with the bullish Energy trade in February and I noticed that Buffett and David Tepper recently made large investments into oil stock.
SC,There is a gap at 4 and another gap at 5.5what are you expecting?
I think RIG could pop to around $4 short term
Have some other ideas for it in April.
VIX should reach 18 next three weeks. Unemployment benefits are due to expire March 14th.
Here on earth hospital beds are full and Texas electric grid collapsed. "NASA's Perseverance rover makes historic landing on Mars"
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You know what they say be fearful When people are Greedy And be greedy when people are fearful
Banks were still strong last week. BKX and FAS
On your recent OCGN comment, Covaxin viable? Spike?https://twitter.com/BharatBiotech/status/1363708994162892808?s=19
I'm waiting for lower prices and have a plan, and yes it will be fun I think. It's early now because they are in phase 3 trials. Expect the price can drift lower as many will not want the risk when results come out.I have developed a model and plan to post charts on this. It's a trader.
sc,Is YANG bottoming here?
I'll take a detailed look at these charts.
very quite --today?
Bought amc at 6.50 todsy looks like It could move to 10
Bought tqqq premarket 92.13
sc,are we breaking key supports?
I bought tqqq all the way down To 88 giddyup
Tom Dunn is a bigshot
LOU,not---No More --but have a good day--Lou
Lol I told you on the phone to go long
Trade the market tommy boy
lou,are me and you --the only ones on this board?
Sc u still think vix 18
Yes it will
Amc giddy up
Good call Louis
Fauci Said US May Soon Ease Rules. Great Call for AMC, Lou. BTW, why your target is 10 instead 13 where gap is?
SC are you still waiting for the $5 dollar mark to get into KODK?
I've been waiting for the price to come down. It just felt that it was getting stale with political risk especially, and it was. I love the direction that the company is heading though. It's a transition that takes time. Just a matter of getting the best price for it.
Oil still strong, UVXY still weak. SPX is moving very slowly and it seems under some pressure from the higher Oil. The trends continue.
SPX well I told you it would be choppy lol, but it's still heading higher.
SC... do you have charts for bitcoin by any chance?
Bitcoin is beginning to form a top that will form from now until July. I see several bitcoin etfs have listed in Canada. Not a good sign. This is done to provide liquidity for an exit. I am avoiding bitcoin completely.
lou,your right --the chart is very similar---let see what happens!
Oil up again! SPX is down. They are trading inversely now. This is supporting my hypothesis that this market cannot handle Oil above 60.
So you can imagine what happens with oil $90 to $100.
sc,OIL--90 to $100 ---oil---we will break through marches 2021 bottom
Oil is going to be incredibly volatile
SC,sc,on that note, i will scalp Drip for a buck here!I do this all the time ---yesterday --it was a little more than a buck --
Expecting a high for oil around month end and another high around March 14th then a correction for oil into April.
RIG hit the 50 dma and up sharply.
The idea for this trade was first positioned in crude oil, the commodity, last year then transitioned into oil stock. Now it's the lowly drillers that should be getting ready to run.It's a profit maximization strategy.
Nobody wants oil drillers at a bottom for oil or even as it begins to rise. Everybody wants drillers at a top for oil lol.
My turn dates work best for oil than SPX. I talked about the theory of the inverse relationship before it happened. Now it's more clear that yes oil is beginning to pressure the SPX.
Looking good! Gamestop making pop too.
Yup I traded out in the 8 area
Probably for the best. I don't think GME has bottomed
AHA!! Notice these dates match up exactly with my turn dates! "House Democrats plan to pass their $1.9 trillion coronavirus relief bill by Friday.""The Senate aims to approve the package and get it to President Joe Biden’s desk before March 14, when key unemployment programs expire"
Bought and sold twice
Financials are ripping!
I'm selling the rips and buying the dips
Amc there's your 10.75
Lou,nice trade---you the man!
New chart posted!