2022-10-21

Energy Surges

I closed my last energy short positions yesterday. I still think it reverses, but there is room to run if interest rates and the U.S. dollar reverse. The market is already getting close to a euphoria high move.
At some point I may have to hedge by running for Congress as a far-right politician. The public will be clamoring for blood if inflation turns higher again.

There is a gap ahead on XLE though. Last stop before a double-top or new all-time highs.

Posted by at 3:24 PM
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2 comments:

  1. ChrisOctober 21, 2022 at 3:58 PM

    Looks like a gap fill for sure & likely double top. some serious energy bulls like Erik Townsend expect a break up! Their reasoning should be considered at least IMO.

    ReplyDelete
    Replies
    1. LZOctober 21, 2022 at 4:19 PM

      It's why I've almost never had energy as my to short position this year. If energy goes up, most everything else will eventually be going down.

      Delete

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