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In recent days, one particular point of frustration for me has been XOP, the oil and gas producers fund, which lurched higher on a daily basis for weeks. I am confident, however, that this rally has ceased, and I am amping up my bearish position on XOP as well as the individual stock COP.
Take a look at the relationship between the price of XOP and its trio of exponential moving averages (50/100/200). I’d say the risk/reward on a bearish trade is appealing right here.
One quirk of owning an electric car is you’d better get used to waiting at the charger for a while. Bring a good book, if you can. I’m surprised to see how much better Chinese car maker BYD is at this task than, oh, let’s say, Tesla.
I have two positions that have absolutely sucked: COP and CNQ. Based on their patterns, I am doing a total greenhorn move and adding to them. I think these suckers are eventually going to break, and I’m happy to just keep buying more puts.
I remain astonished how well our bullish cycle play on natural gas continues to run.
Of the thousands of charts I follow, this remains the only one which is steadfast to its sinewave.
