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Thursday, March 9, 2017

Market update 3/9/2017 Russia Oil Gold


Oil broke key support yesterday, and plummeted 5%, and the rest of the market hardly moves, on an otherwise quiet trading day? $VIX only ends up 1 cent, no fear? That says a lot.

As you probably remember from a few weeks ago, I revealed the stop hunt on Oil, and now, weeks later (yesterday), we see exactly what you would expect to see when stops are taken out, but is oil broken? No. How about energy stocks? Not even close...

I can't say for sure this isn't the beginning of a larger correction in Oil, but we don't see oil gapping down, this morning, as you would expect to see is a major reversal. What we see is pro-shorts backing up the truck.

This all points to the same ol' dirty tricks being played by the banksters, and their hedge funds, who with the help of the Fed, and the financial networks, who are all owned by the same criminal who lend us our own currency with interest, rig (false) economic recoveries, rig the gold markets, rig the currency markets, and even go as far as to steal from their own clients, in broad daylight. This is the "new normal", but maybe not all that new.

The 4 ways Wells Fargo employees were ripping off customers, earning the bank a $185M fine

Do you think the deep state wouldn't cause an international incident, in order to drive oil to new highs? Iran is our ally in Iraq, and all they'd have to do is convince them to torpedo a US, or British, ship, in the straights of Hormuz. If it happens, god forbid, I'll be the first to call it a "false flag", because we already see the media selling us a war with Russia (Iran's true ally).  

U.S. Navy, Iran ships have close encounter in Middle East

Iran warns US of ‘irreversible consequences’ over 'unprofessional' Gulf incident

The Oil Charts:  Looks like a panic wave E of Primary wave (B). This can be a tricky triangle pattern to identify, but it typically ends with a violent reversal, once wave E completes. This morning - in pre-market - we saw support taken out, but that doesn't count. Support is 39.20, which is in the price territory of wave A @ 49.95. This is where oil should reverse, so if instead we see oil continue to plunge, don't waste any time getting out.  

The 3X leveraged Oil ETF's have been de-listed, but 2X leveraged Oil ETF's $UCO, and $SCO work.


To add to the legitimacy of this long oil trade, Canada pulled back sharply yesterday, and looks like it's setting up for a powerful wave C, at least. This is one to watch.  2 minute chart.

 Energy:  Trading energy is a less volatile option, and I like this beaten up name.
$BAS - on sale. Long term hold, use the recent low as your stop, and you reduce your risk significantly. I see an easy double. This is the dash for trash trade that you typically see this time of year.    

Energy:  Possible wave iii of 3 coming up. That would be a tremendous move. Trend remains up.


The $GLD is testing the 50 day, and that's a bullish signal.

I gotta like miners here, because the $HUI is retesting support, at the bottom of the pattern. Could take another day or 2, but I would be a buyer of gold miners here.

$GDX - may see one more shakeout, but I'd start pulling the trigger, buying the dips.

I'm out of time, AA

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