In addition to silver getting worked over today, crude oil continues its slide. On the USO ETF below, note there is some room to drop further before the next potential major support zone presents itself. SCO DTO are the main inverse ETF’s. The falling wedge breakout higher yesterday could not be sustained and instead looks like a bear flag breakdown now.
On the flip side, natty is having a good day, with UNG gapping higher.
As far as stocks, the weakness in high beta issues is persisting today. And financials are quite disappointing indeed, with the XLF and KRE sector ETF’s giving back much of the gains late-last week.
I am still very cash heavy and hedged. One of my longs, OPEN, is a bright spot today, as the numerous shorts in the name are on the run. My LOW short continues to be a grind, even if I am essentially flat on it.
Let’s see what the final ninety brings.
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That was some bull trap back in the summer on crude.
$LOCK looking strong
Still a beast.
GLD really following SLV down now.
End of day rally?