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...
Halliburton Option Players Are Expecting A Rebound

Halliburton Option Players Are Expecting A Rebound

Shares of Halliburton began a steep decline in late May.  After a damaging breakdown on the 25th the stock had left behind layers of supply and was entering a fresh down leg.  One week ago HAL blew through major support near its 200 day moving average.  This key long...
Crude Crushed

Crude Crushed

Crude(USO/United States Oil Fund)is ending the week with a ugly breakdown.  The index has been under pressure since reaching new 2018 highs early Tuesday.  The downside reversal since has driven the index well below initial support near the April high.  The rising...