The XOP ETF is in the throes of what I believe will ultimately be a gargantuan top. Short-term, I’ve got a stop-loss at the 136.25 level (I bought June puts yesterday).
Energy Reversals
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.
No Gas Pedal
Ya know, it’s a real shame that just about the only cycle I’ve ever discovered to work reliably over decades……..natural gas:
Crumblin’ Down
Happy December 26th to you Slope. As we begin to close the book on 2024 and look forward towards 2025, I thought it was a good time to look back at my primary call for 2024. This year I was focused on Tom McClellan’s 10-year crude oil analog, and what it was forecasting for the 2024-2026 time period. Let’s take a look.
You can read Tom discussing the analog here, just after the 2020 Covid crash. In the article he states:
“I first discovered this relationship back in 2008, when I looked at a log-scaled long-term chart of crude oil prices and noticed that it looked an awful lot like the chart of the DJIA. So, I put the two on a chart together but was not really satisfied with the way that the pattern details lined up. After some tinkering, I found that offsetting the crude oil plot forward by 10 years made for a much better fit between the two plots.
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Loss of Energy
If XOP can finish its head and shoulders top, it could mean an even more powerful push lower for oil production companies.
Natural Gas Cycle Rock Solid
