Allow me to limber up while I pat myself on the back – – or at least pat technical analysis on the back – – because, earlier today, I was vaguely remembering I had written a post that said something like “oil producers are the new gold miners”. With oil producers plummeting so consistently, I wanted to dig it up. Well, it didn’t take long – here it is.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
March Lows Next?
My energy bearishness has been oft-mentioned in the hallowed halls of Slope, and the way things are going, it seems like we should drag out the late 1990s terms of how the “new economy” (Netflix, Facebook, Google) is completely dwarfing the “old economy” (crude oil, gold, silver, and other assets you can actually hold in your hand).
Looking at crude’s slippery slide, one wonders if the mid-March lows will be taking out next week:
Iran’s Crude Effect
Just a quickie comment-cleaner as we await something more pithy from Springheel Jack……..
I remain bearish on energy and energy-related stocks. Crude has been stuck in a very tight range for the past seven trading sessions, following the big drop of July 6. The historic deal with Iran is obviously suppressing prices, since a tidal wave of oil from Iran in coming years will just add to the supply glut. As always, this is just background noise to the charts, though; keep an eye on a failure of Tuesday’s lows to get the tumbling resuming:
