We finally saw the first big selloff of the tumble in oil and gas prices we forecast months ago [see: Jan 13 Update.] Though the technical damage isn’t that great yet, it’s only getting started. I’ll focus today on how the decline in oil/gas should play out over the next several months and how other sectors of the market should react.
I think the writing is now officially on the wall: the Fed must tread very carefully, especially over the next 4-6 weeks. The good news is that there should be some excellent swing trading opportunities and there is still plenty of time to position for them.
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