Weekend April 13, 2024
WTIC crude jumped $2 Friday morning but gave most of that back by the end of the dau That meant the selling spread to energy shares as with the rest of th market.
Friday was a 90% down day so 9 of 10 stocks f in ished down. Such days are usually followed by a day or two of some rebound, The hourly chart for SPX is quite over sold.
Crude oil has gotten ahead of itself
This looks like a reversal day.
As I write Saturday afternoon Iran has sent 'swarms of drones' to Israel to retaliate for Israel's attack, what else is new in the Mid East? Will that affect the price of oil Monday?
PMO is extended and turning down.
HEdge HDGE is a bear fund which rises when the market falls.
A Wall St Axiom is that in a bear market all news is bearish.
I am wondering if the better idea is simply to focus on a bull bear stock combo, SPX and Hedge
and TLT and TBF for bonds along with a SLV f or ilver.
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