The rally in stocks from short covering is coming to an end as evidenced by the falling Twiggs Money Flow on all the major indices. I wrote about the Trump short covering rally here. I said a week ago that when we see a negative divergence between the Twiggs Money Flow and the major indices, (Read More….)
Matt Smith of ClipperData was on CNBC today, and I started choking in shock over what he said about how oil tankers are building up off Singapore because nobody has enough room to store all the oil.
In the U.S., Matt Smith said, we are seeing an oversupply of gasoline where they are turning gasoline (Read More….)
I just went long NUGT this morning. The idea is to trade in and out of NUGT on the way up.
I took a Blue 10 entry which is usually a solid entry. NUGT is a longer term swing trade and so the 1 hour and daily time frames are what I focus on, and (Read More….)
I took a long entry today in NUGT on a 38.2% Fibonacci retracement. I booked profits in NUGT last week and was a bit bummed as I watched it go higher and higher. Then, a miracle happened and we had a huge pullback today on the ADP job report today. NUGT set up right into (Read More….)