Put aside the fundamental concerns for a moment. Stocks do not move on fundies in the near term. They move on supply and demand, guided by emotions. Right now, people are greedy. They’re greedy little fuckers clamoring for some of that Xmas present money back. Traders are bearing witness to an epic short squeeze in oil and automatically want to fade it because they hate oil.
Let’s take the emotion out of it and view the movements according to Exodus.
This is an oscillator for the oil and gas exploration space, which is up 7% for the day. The chart you see is our predictive algorithm designed for this specific sector, taking into account the raw commodity movement, technical and fundamental factors of each stock in the group. As you can see, there are definable lines in the sand that can/have been traded on over the past year.
The chart is starting towards overbought, but not there yet. If we get a minor pullback in the sector, we can see the median return for this sector sprint by another 10-20% before it gets overheated.
My top pick in the sector is SN. Other commodity stocks that I like and own are PAH and FCX.
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Since OA is dealing with some personal issues today and cannot post a blog, I have to tip my hat for his big call on the oil bounce starting yesterday and his subsequent oil play he mentioned in AHWOA which has put a big smile on my face today
crushing shorts like pesky bugs. again. merry christmas.
These 3 days have really deterred my bear regime, of 5 years. Very very convincing 3 days.
It’s literally a no volume, algo driven rally. There are no big money players placing bets here. Don’t read too much into it either way.
sircastik
Atlanta Fed Q4 GDP Forecast Tumbles To Lowest Yet Sliding To 1.3%
Gotcha.
Fly, you gotta watch “Making a Murderer” out now on Netflix and give us a review
Did he do it or not? I need to know
$KBIO to be delisted. Headed to $0. Joe Campbell was right!
What a sad story.