Energy, and Oil Drillers, Make New All Time Highs - Trump Shows His Hand

While the broader market continues to chop sideways - tech lagging - financials consolidating after rallying for 3-4 days - the energy trade is on fire - trading at new all time highs. Funny aside - Gemini tried to tell me Exxon $XOM isn't trading at new all time highs, until I pointed to the chart. Then it admitted it was wrong. 

AI hallucinates a lot

Market leader Exxon in fact did close at a new all time high, after touching a new intra-day high ($175). Several energy names did...  Home Work: chart 'em all. 

tradingview.com

$XLE - (fresh chart) The entire energy space trading in the top of the range (two ranges - or channels actually) - headed for higher highs. Target looks like 68. It could overshoot, climaxing with a blow off top, just as gold miners did. I suggest you don't short it, until you see the whites of their eyes. Wait for volume to confirm capitulation. Since it looks like financials have stalled on $BAC (fines), I'm uploading this chart to the public hub [linked].      

The smart money is obviously driving the above trade - billionaires. Fast Money as well. The Trump pump should easily drive the trade above the finish line: 

Trump Shows His Hand - Art of the Deal Alaska 

Taiwan has agreed to buy 30% of the liquefied natural gas from a pipeline project in Alaska, US President Trump told a rally in the state, but the deal terms were not immediately clear https://t.co/CYHT5yZ1MX

— Reuters (@Reuters) October 14, 2026

Art of the Deal, Greenland -  

This deal was agreed to weeks ago - but the leftist mainstream media doesn't like reporting the details on Trump wins. That's fine: Trump is telling you it's "HUGE", and the performance on the oil drillers speaks for itself - far outpacing the performance of crude oil itself. 

Trump says 'massive' oil, gas and mineral exploration to begin in Greenland https://t.co/yBTH8ZwUF7 https://t.co/yBTH8ZwUF7

— Reuters (@Reuters) October 14, 2026

Trump’s Greenland Deal Boosts US Drilling Opportunities
Newsweek Sept. 23, 2026  

Good luck 

Columbus Day Fallout - Light Tape, Heavy Rotations

Yesterday’s volume was significantly lighter than usual due to Columbus Day (banking holiday). That alone explains the 50% short squeeze in $BMBL Bumble (still trading under $5). Chart from the junk folder, not updated in nearly 2 years.

The rest of the market barely moved — $SPX closed UNCH again. Board snapshot shows a different story:

• Healthcare (minus J&J) led...
• Big banks continued last week’s winning streak.
• Energy stocks "" - trading at all time highs.
• Utilities continued their 8-day win streak — best performing sector in October.
  Crickets from the talking heads.
• Consumer Defensive led by a higher recent high on $WMT. Even the rich are forced to shop there now. Prices remain near COVID highs because real inflation over the past decade has been grossly under-reported. Home prices up 50-60% since 2019. 

Your tech-heavy 401k didn’t fare so well, and that trend is bound to continue... 

Chip stocks are dragging. The latest rout flies in the face of the Fast Money traders who shamelessly pumped this sector in September. What used to be a good show when Jon Najarian was on has become the #1 contrarian trade indicator. Next time you see Tim Seymour pumping his own position, consider the source.

$JPM missed earnings and revenue (came in light), but net interest margins were higher. Stock is levitating (+1%). Goldman beat — $GS up +3.5% and has room to run. $C — meh. Expected a bigger pop.

I added a bearish shooting star annotation to yesterday’s $IYF (financials) chart [public chart link]. Not just the candlestick — key FIB target visible on the $DJUSFN chart from the alternative views I track.

Far more interesting: the right shoulder target on our $PNQI tech chart was taken out. Possible rotation out of tech finally in play. Chart updated. Find the link to the public charts in the left side menu. 

$WEBS (3X Internet) bear rallying for the second day. Components differ from $PNQI — do your own due diligence. Up in pre-market after yesterday’s reversal.

Watch the $PNQI shoulder break and $WEBS for confirmation of any real rotation out of tech. Light holiday volume exaggerates moves — don’t confuse it with conviction.
Machines still drive the tape. Technicals over narrative. 

P.S. Final blog draft created by Grok/AI - because "time is money", and I ran out of the former.