Friday, April 29, 2016

Getting Interesting

You are finally seeing some more volatility.  That was quite the late day selloff yesterday, a hint of things to come as we are at lofty levels and should go lower over the coming weeks.  This happening while oil is making higher highs, now trading at 46.50.  The overseas markets have started to roll over.  Expect higher volatility going forward and set lower buy targets.  Higher oil prices are not enough.  We are just back to where we were in November with oil prices.  It is not a game changer.  It looks like a big range in oil, from $30 to $50.  We are getting closer to the top of that range.

As I write, we are making new lows in the S&P futures.  It is no longer a buy the dip market, but a short the rip market.   It is sell in May and go away. Play accordingly.

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