Crude Rising

Crude Rising

Crude is moving well this morning.  The $USO is up 3% after opening the new year with a gap lower open.  Highlights:  The $USO is working on only its second weekly gain over the last 13 weeks.  This steep decline has traced out an ugly bear channel.  It may soon give...

The Most Hated Sector

In the past 28 years, there have been two times when every stock in the S&P 500 Energy sector was below their 10-, 50-, and 200-day average and more than half were trading at 52-week lows. 1) During the very depths of the 2008 financial crisis. 2) Now Hat tip...
Crude Crumbling

Crude Crumbling

$USO under heavy pressure this afternoon after a promising start.  Crude opened above Friday’s high and remained in the green for the bulk of the day.  A late sell off has pushed $USO to new November lows as the current losing streak stretches to a record 11...
Crude Oil Under Pressure

Crude Oil Under Pressure

Crude Oil($USO)continues its steep slide from its October peak.  One month ago $USO reached new 2018 highs as it extended its rally since the 2017 close to 35%.  Since then crude has struggled mightily.  This week has been particularly painful.  Yesterday the $USO...
Mortgage Rates Continue To Rise

Mortgage Rates Continue To Rise

Headwind.  The national average for a 30yr. fixed rate mortgage has reached 4.69%, highest level since Q1 of 2011: Another headwind, rising prices at the pump.  The USO(United States Oil Fund) is up 22% from its summer lows: Bankrate.com chart courtesy of...