Monday, December 6, 2021
GUSH - Before/After
GUSH hit a high and pulled back exactly as planned beforehand. Biden has been selling Oil out of the Strategic Petroleum Reserve in an effort to suppress the price of Crude. This is unlikely to keep the lid on Oil for much longer, and quite frankly signals desperation in a highly inflationary period. Weekly
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Bought GUSH $93.20.
ReplyDeleteWhen Biden signalled that they were about to sell Oil I had shorted Oil shares with DRIP and XLE Puts.
ReplyDeleteNow there is no choice but to go long GUSH.
Thank you Biden for knocking the price down for me to reenter GUSH. Greatly appreciated!!!
ReplyDeleteAny dips I'm a buyer on GUSH.
ReplyDeleteGUSH price target $200.
ReplyDeleteAmin Nasser, the chief executive of Saudi Aramco, the world’s biggest oil producer:
ReplyDelete"Nasser, during remarks at the World Petroleum Congress in Houston, Texas, claimed that transitioning to cleaner fuels too rapidly could prompt uncontrolled inflation and social unrest."
"Rep. Devin Nunes, R-Calif., will resign from Congress to become chief executive of former President Donald Trump’s fledgling social media company next month, the group said Monday.
ReplyDeleteNunes, the top Republican on the House Intelligence Committee, will start as CEO of Trump Media & Technology Group, or TMTG, in January, the firm said in a press release."
Top of channel by March. $130.00.
ReplyDeleteThanks Deena!
DeleteSC, Do you have a target for crude oil in the short term?
ReplyDeleteThere's still potential for Crude down to $52. That is why I'll be looking to take profit soon. I won't short anymore though. Trade Oil to the long side.
DeleteTarget for next year, above 110?
DeleteYes $150. Retest 2008 high.
DeleteSo I took the long Oil trade off support as per the chart plan.
ReplyDeleteNow it's time to sell all your calls
ReplyDeleteI've come to the conclusion that when the government says things are bad that's when you gotta buy these dumb bastards And when they tell you things are at that bad to sell
ReplyDeleteI meant to say when they say things are good and things are going to the moon that's when you gotta sell
ReplyDeleteLolol yes it true Louis!!
Deletesc,
ReplyDeleteLooks like a cup--Spx 4750---2 or 3% ---with no pull back--fed pump is on ---full blast--waiting for weakness!
Looks like a cup--Spx 4750---2 or 3% moves---with no pull back--fed pump is on ---full blast--waiting for weakness!
ReplyDeleteHi SC, have you changed your mind with XBI low due next week? With the straight up launch this last two days, could the bottom now be in?
ReplyDeleteBiotech having a good bounce and may bounce further but not the low I'm looking for yet. The difference between SPX and XBI is that SPX is filling in a major high whereas XBI major low. XBI may be good for a short term trade but not ready for that major low yet.
Delete118 n 122 After will probably get hit, finally hit oversold on RSI after that long sideways game from highs.....so room to hurt shorts right now....129 stretching bull move
Deleteso they took XBI to trend line, gap at 109.60 looks to be hit tomorrow...if not rise, then the 95 PT comes back into play
DeleteThank you.
ReplyDeletelou,
ReplyDeleteThere you go!
DWAC what a close!! Boom!
ReplyDeleteGUSH maybe cool a little tomorrow but it won't be by much. Still good for a few weeks.
ReplyDeleteSc good call pop s&p500.. do you see a rum up until 22 december before an other drop? Many thanks
ReplyDeleteThank you! Yes another selloff due late in December. This comes from a time Cycle which is due. Although with holidays this makes it tricky. I had said December 22nd but I think it may be Year End just after the holidays.
DeleteSc,
ReplyDeleteI am a buyer of UVXY at 15 to 17 ---looking for 45 to 50 to exit the trade----too much Bullshit out there!!!
I can afford to wait for My monies!
any way it happens-it will sell off into the fed meeting!
ReplyDeleteSold half of DWAC $55.00.
ReplyDeletenice trade!
ReplyDeletebaba first stop 159, 2nd 215, last stop 265.....not all at once....
ReplyDeleteeasy money
Sold all DWAC $60.15.
ReplyDeleteDWAC heading towards $75 but may have a decent pullback soon. If so I would enter again. Also I don't believe DWAC has bottomed yet. This is going to be a fun stock to swing!
ReplyDeletesc,
ReplyDeleteNext time I will not argue with --good trade---have a good day!
sc,
ReplyDeleteWhat's your opinion on UVXY for next week???
I am looking for a blow off tomorrow!!!
SPTrader
ReplyDeleteThe price rebounded strongly after almost hitting the bottom (Higher Lows trend-line) on Friday of the 1D 9-month Channel Up (RSI = 57.107, MACD = 12.610, ADX = 40.831). We now see a natural technical pull-back for the short-term after the 4H RSI almost hit 70.000 earlier today on futures. The 4H MA50 is at 4,610 currently and if it supports, I am expecting S&P to hit my first target (4,740) by early next week (assuming the CPI on Friday doesn't disappoint). My long-term target remains 4,790.
If CPI comes in way hotter than expected, you may see a pop in gold, silver and bitcoin.
ReplyDeletesc,
ReplyDeletestuck between a range SPX 450 to 470---CPI number ---tell tail day!
Break of SPX 470 --we go higher --a break below SPX 450 ---we go to SPX 430
The Fed is stuck in holding position
England is putting on restrictions to Covid--
The US is in a holding pattern.
This weekend will be a tell tale!
We will go through some chop next. Then the Volatility will hit. Likely around Year End.
DeleteThere's going to be a few starts for VIX then it'll be ready.
DeleteFalse starts
DeleteSome stocks will make a retest here of the lows last week, but others won't. It just depends. Everything choppy this month.
ReplyDeleteEvergrande officially defaulted. Any thoughts?
ReplyDeleteMostly it's factored in now. BABA is a good indicator of China and holding okay today. China had a very bad year and it could finish badly.
DeleteBought DWAC $59.15. Lite position.
ReplyDeleteGUSH 50 day average at $105 makes a good target for now. Came and tested the gap today.
ReplyDeleteSPX should at least test the gap at 4,630 but looks positive on daily chart.
ReplyDeletesc,
ReplyDeleteWe need a morning star pattern on UVXY--that will mark the top
"Inflation surged 6.8%, even more than expected, in November to fastest rate since 1982"
ReplyDeleteUnfortunately SPX lost in November adding insult to injury for those S&P groupies.
DeleteSC, when do you expect crude oil at 150?
ReplyDeleteNext year estimate May/June.
DeleteSC, i'm interested tu buy put options on S&P 500. So i'm waiting for 22 dec to start to accumulate.. do you see VIx at 15 in that moment? ad which target have you for S&p500 before drop at the end of this month? many thanks ..
ReplyDeleteSPX can retest the high of 4,750 then the low of 4,500. VIX is trending higher so might not see 15.
Deletesc,
ReplyDeleteAt this level---spx has a magnet pulling to 4750
The Major banks in London ---tell employees to work from home--
Matter of time before volatility strikes again--
New York Gov. Kathy Hochul imposes statewide mask mandate amid spread of omicron Covid variant
ReplyDeletewe need something to happen over the weekend ---we are at a tipping point!
ReplyDeleteAfter the Omicron spreads some more then we can position for the volatility.
ReplyDeletewell there's uvxy 15
ReplyDeletesc,
ReplyDeleteI own 11 calls for Jan 21 ---20"s
they were just at 10 bucks
Need to buy the wife a Lexis for Christmas
I may 20 of them by end of Day
Next week will be a Shit show!
Hahahaha, well I will be joining you in not so distant future.
Deletethe option is at 2.20 now
ReplyDeleteMoring star pattern on UVXY
ReplyDeletesc,
ReplyDeleteOnly time will tell ---but the Fed will not be good!
sc,
ReplyDeleteyou told me that when UVXY was at 14--then it went to 26---I like profits!
I have seen a good profit --since Moses came down from the Mountain--!!!!
Omicron take off in Canada soon...
ReplyDeletehttps://youtu.be/HA6dAkdo6aM
"The British government raised the country’s official coronavirus threat level on Sunday, warning the rapid spread of the omicron variant had pushed the U.K. into risky territory."
ReplyDelete"They recommended raising the alert level from 3 to 4 on a 5-point scale. The top level, 5, indicates authorities think the health care system is about to be overwhelmed."
sc
ReplyDeletelots of bear flags on the indexes----watch the 20 day moving average if it breaks through on strength---Spx 4686---we can retest the lows and I can see alot higher on the Uvxy
Yet to be seen?
sc,
ReplyDeletehttps://www.reuters.com/world/russia-says-lack-nato-security-guarantees-would-lead-confrontation-ria-2021-12-13/
sc,
ReplyDeletejust another inside day!
sc,
ReplyDeletenot much here ---closes on low of the day--still waiting for the bottom of the flag Pole--below ---Spx 4650
any advice????
A wise old man once gave me some advice I've never forgotten, "Buy low, sell high."
Deletesc--just went long Lcid and the Market
ReplyDeleteBought AMC $23.50.
ReplyDeleteHi SC, would you please comment on ocgn & kodk. Are you interested in purchasing them at their current levels?
ReplyDeleteOCGN came right to the level I had mentioned at $4.90. So this looks good. Now we should watch XBI for more evidence it is bottoming. XBI is going to have a big run in 2022.
DeleteKODK is more of a longer term play. It still could come down more before it turns. I'm waiting to see if it gets oversold on weekly.
DeleteSC, do you think KODK will fill gap at 2.62?
Delete