I saw this video over on Reformed broker. If this is true then Nat Gas companies are gone, Oil Companies are dust (or sand) and utility companies could be dead and buried. It could change everything and start a new era – without many companies from the past era. Definitely worth watching…
Watch CBS News Videos Online
The End of the world as we know it
All that glitters
We have just gone short SLV in our Wall Street Survivor account. The reason is the Bow Tie pattern. Landry “Bow Tie”, named by Dave Landry, with the sequential cross of the 10 (SMA) and 20 and 30 period averages. Often the first pullback becomes an opportunity to take trades in the new ‘trend’.
As you can see from the weekly chart below the 10 week MA has already crossed the 20 and is about to cross the 30. Also higlighted is the last occurence of this: July 2008.
Silver
Update on GLD
Target remains at 95.00, an updated chart below..
GOLD
For a summary of this and other Target please go to Summary of Market calls
Update on Oil (USO)
Okay we are back in the bear channel again, with a retest of the trendline. Lets see if it can stay within the channel this time. 5yr and 60 day charts updated…
USO 5year
USO 60 day
No updates
Time to watch the markets for a few days and see the new emerging patterns. I still stay very bearish and expect 2010 to be very interesting, however bounces happen.
Oil does the Okey-Cokey
You put your left arm in
Your left arm out
In out, in out,
You shake it all about
You do the Okey-Cokey
And you turn around
That’s what it’s all about
Oh, Okey-Cokey-Cokey
Oh, Okey-Cokey-Cokey
Oh, Okey-Cokey-Cokey
Knees bend, arms stretch
Rah-rah-rah
We are now back out of the bear channel. I get the feeling that the Crude Market is hurting bear and bull alike. I still think we are going down to the teens however not in a straight line.
Oil (USO) Update
First the chart…
Oil
Okay this is a 15 minute chart of our larger chart (see previous USO post). As you can see on this view we have reentered the bear channel. My best guess for the next major attraction point, on the USO, would be $31.54.
Updated 5 year chart is:
uso 5yr
Update on Gold (GLD)
First the chart..
Gold
Then the guess: On our last post GLD was at 107.17, We still think that this is going to $95.00 (at least), with some bumps along the way.
USO update – attempt 1
As you can see, from the chart below, USO (see previous posts) tried to reenter its bear channel, and failed. I think we will see a few more attempts and one will succeed:
60 Min Chart
USO 60 day
and the 2 yr
USO 2 year
GLD – A Chart and a guess
First the
Weekly GLD
chart..
And now the guess – GLD to go to 95.00 ish.
