Market topping out, oil looks prime for a break out. See $USOIL idea below. Only question is how high can this rally go if the DXY breaks out of its wedge and rips higher?
If the energy sector takes off, that could give the green light for other equities to continue rallying, while equities go down. That would imply a stronger-than-recent USD and higher priced...
For Growth Investors, there were a few shocking days over the past months where the indexes went up but our portfolios went sideways or down. There's no worse feeling than having the market go up and have your portfolio go down.
The cause was sector rotations as investors moved into "discounted" stocks that were hit the worst during the market crash of 2020...
Got burned on my call options pretty good. Waiting for it to hit 35 before getting back in. Virus cases spiking is forcing this thing down again. Not exactly sure where the bottom is yet, but i am thinking 35 has some good support. If we go up from here i need to see it break to 39 before i feel good about going long..
No position right now.
Looking like a nice little harmonic pattern here. Lots of room for growth with RSI and MFl on the low side, although still not oversold..
Targeting gaps at 42, and 45 above. In calls right now, looking to dump these when we get to 41/41.5 for some healthy gains.
Looking at USOIL up 3% while XLE and CVX still not reacting with it.
Prices have been moving together pretty well until recently. Energy Markets still nervous about second wave closings i think..
Hoping for some gains on XLE this week. In the red on my call options after things were looking pretty good on Friday. still have some time this week to make up on them.