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The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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« Important Test for Oil This Week | Main | Oil Production Up in USA »

June 21, 2017

Crude Oil Collapses

Wed June 21, 2017

WTIC

Screen Shot 2017-06-21 at 4.50.21 PM

It is possible oil could reverse here as it did last November, but I am not expecting that to happen.

Notice the big volume today and MACD still falling at top

Weekly WTIC

Screen Shot 2017-06-21 at 4.54.37 PM

Once the 40 level is taken out, there really is nothing until we go all the way back to the February 2016 lows.

Apache

Screen Shot 2017-06-21 at 4.59.54 PM

After three days Apache is down 7.83%, this is my reliable bell weather for energy stocks.

With final lows not due until this fall, this market could return to the February 2016 lows.

I bought DUG today, it is an inverse play on energy stocks. More every day as this has heated up.

 

 

Posted at 06:02 PM in Energy |

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