Weekend Dec 15, 2019
Oil has had a nice frun form 51 early Oct to 60 now. It looks a bit over done short term.
Stochastics at top and PMO at bottom suggest this is not a low risk environment for the time being.
Halliburton HAL
After a nice run from August, HAL and SLB were both down Friday. This might be an excellent juncture to sell calls against any positions.
It is possible that energy is topping now, needing a pullback and then will pick up again in 2020.
Interest rates may have topped short term here, look for a pull back in rates.
Transports have pulled back and DJIA could use a Transport rally.
Seasonally stocks tend to trade slowly from mid Dec until after New Year. Christmas and New Year fall mid week on Wednesdays. This means lots of traders will be taking off for a longer holiday before or after either or both days. It is only one more week till Christmas week. So don't expect a a lot of upside action.
Happy Holidays, more to follow.
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