Shorting Oil and the Markets April 2019
The markets are not so difficult to follow these days if you stop listening to the talking heads. I presume that anyone listening to my blog at this point has long since decided that maybe I do know something....lol.
If you are still listening to the talking heads, well, some people just love swimming upstream and I wish you well with that one.
I told you to buy significant dips in the markets. Right! I mean I have been telling you that forever. Buy the dips. If you have you are sitting on some of the best profits in the past two years. If you haven't then you are simply put, not listening to what I say.
Oil has been ramping higher ever since it bottomed at the 40 area which I told you it would. Since then it has followed a rather predictable pattern of going higher and higher. This is corrective in nature and should not be looked on as a recovery wave. Not at all.
I am still short the black goo and will be short unless it breaks above 65 and then 70 a barrel. Even if it does I will be looking to enter a short again.
The Dollar index continues its sideways motion where has dictated a very narrow range for all the other majors that are pitted against it. This anemic range has been here since last year at this time and it does not look like it will go anywhere any time soon. Goodness forbid that the free markets dictate where the value of the Dollar really is.
Now Bitcoin did break its technical trend down and looks poised for a move to maybe the 6200 area. From here I expect it to fall back to the 3000 area and then on to its eventual price of maybe 1 dollar a coin. That is just my view folks so don't go backing up the truck just yet. I would be looking to short Bitcoin again when it gets to around the 6500 level.
I expect Gold to move down to much lower areas in the next week or two. I see 1200 as a place of final rest.
I am not too active this week as I expect the markets to make new highs at some point in the not too distant future. There is no major points that I would feel confident bringing to your attention at the moment so I would simply book some profits on the new highs if you bought the dip. Cheers!
If you are still listening to the talking heads, well, some people just love swimming upstream and I wish you well with that one.
I told you to buy significant dips in the markets. Right! I mean I have been telling you that forever. Buy the dips. If you have you are sitting on some of the best profits in the past two years. If you haven't then you are simply put, not listening to what I say.
Oil has been ramping higher ever since it bottomed at the 40 area which I told you it would. Since then it has followed a rather predictable pattern of going higher and higher. This is corrective in nature and should not be looked on as a recovery wave. Not at all.
I am still short the black goo and will be short unless it breaks above 65 and then 70 a barrel. Even if it does I will be looking to enter a short again.
The Dollar index continues its sideways motion where has dictated a very narrow range for all the other majors that are pitted against it. This anemic range has been here since last year at this time and it does not look like it will go anywhere any time soon. Goodness forbid that the free markets dictate where the value of the Dollar really is.
Now Bitcoin did break its technical trend down and looks poised for a move to maybe the 6200 area. From here I expect it to fall back to the 3000 area and then on to its eventual price of maybe 1 dollar a coin. That is just my view folks so don't go backing up the truck just yet. I would be looking to short Bitcoin again when it gets to around the 6500 level.
I expect Gold to move down to much lower areas in the next week or two. I see 1200 as a place of final rest.
I am not too active this week as I expect the markets to make new highs at some point in the not too distant future. There is no major points that I would feel confident bringing to your attention at the moment so I would simply book some profits on the new highs if you bought the dip. Cheers!
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