$VIX is back down below 30.25, so I'm giving the "all clear" again, after yesterday's little head-fake, where we saw a little dip at the open, followed by the short sellers being blind-sided by a 700 point rally. I was away from my desk for the reversal, but we've seen this, plenty of times before.
Throughout this entire selloff, I can't imagine how the bears made any money, unless they sold energy, China, and Biotech, 2 of which I recommended weeks ago. More on that in a minute
Oil dips another 3%
Bloomberg was seen reporting that Oil had "PLUNGED", on some Russian (sell the rumor) story, so you know the people behind the scenes are, once again, helping to generate (panic) hype, just as they did when Oil contracts fell below 0 - back when they were pushing a supposed oil war", between the Saudi's & Russia.
Look, just because the Saudis, say something, doesn't make it true. Perhaps they were the ones shorting oil, and planning to buy the newly created Dubai index (the $UAE), at a big discount ($7.59)! Maybe it was Goldman Sachs, and the rest of the protected Federal reserve banking system? I suspect we'll never know....
Looking back at recent oil crashes
The collapse in oil prices in 2020 wasn't even blamed for the broader 2020 market route, covid was. In the same way, sub-prime mortgage market was blamed for the crash of 07-08, instead of the real culprit, "mark to market" accounting, and another route in a heavily pumped oil market.
And when they were finished crashing the market, all they had to do was throw a few trillion dollars at the problem, and tell the banks to "buy stocks", and more importantly end mark to market... and the rest is history!
The Saudi/Ruddia Oil Price War Historic Blunder #1 Forbes
Yesterday morning I noticed that the Oil $VIX had pierced the 100 level, and as if that wasn't ridiculous enough, it was pierced again, at yesterday's open. I suppose Bloomberg's fake headline helped...
Oil $VIX
This morning we only see Oil up 3%, but before long we're going to see who's swimming in the pool naked (out of the money shorts), as the great Art Cashin used to say, and probably still says. I just haven't seen him for a while, since I stopped watching CNBC.
Oil $VIX 100 target reminds me of the so called, "Covid Crash", where traders were trying to squeeze the $VIX shorts out at 100, which ended in an epic fail, because the $VIX had already overshot the 80 target @ 85.47, but I digress.They Almost Managed to Break the Bull Market
After yesterday's closing bell. I was reviewing some longer term charts, and deleting some broken bullish chart views - I've been saving - and I found this:
The market was actually seen breaking key long term support on Wed., and this caused the panic we've recently seen in the $VIX.
Tweeted - and hopefully you can see the charts on these embedded tweets. The pink line actually broke, but has since recovered. This was a close call, and I'm sure a stop-out for some.
It's no wonder the $VIX spiked yesterday. The market was breaking... pic.twitter.com/TZwxbpgyjE
— Veteran Market Timer (@3Xtraders) December 2, 2021
So it was a good little shakeout, but a little too close for comfort
More evidence of $VIX market Manipulation
Someone on Twitter found strong evidence of $VIX manipulation, you might be interested in, and if you can fully understand the process that was used.... please fill me in! I'm not an options expert.
We have identified an unusual $VIX split that expires on December 22, 2021 with a strike price of $40.00.
— Quant Data (@QuantData) December 2, 2021
7,610 CALL contracts with a price of $1.83 (Above Ask) were purchased at a $1,392,630 premium.
Adding the $DAX to yesterday's bullish market indicators
The $DAX took out the 50 week moving average target, I alerted to earlier in the week.
I think one of the best trades coming up, would be the oversold oil market, so I'm going to be adding this 30 min. chart.
US auctions off oil and gas drilling leases in Gulf of Mexico after climate talks theguardian
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