the sector is overbought. correction or buying opportunity coming. we have expiration too
uso is an etf for natural gas. put up a monthly, now this is a huge base. a breakout from this base can support a large move higher. dont be lulled to sleep by the iraq/syria situation it is huge . and opens a huge can of worms. not mentioned in all of this is the kurds , who lost their homeland when the world was redrawn and didnt include them. their land has significant oil deposits, which i suspect they are going to try and have a say!
firm to higher oil prices will generate inflation.
well singapore wants in on a new goldcontract and they are starting an exchange in sept
http://www.bloomberg...hifts-east.html
india has been off line for quite some time. w/modis election folks have anticipated a lowering of the 10%tax and abolishing the 80/20 rule. we are still weeks away from a new budget. so smuggling is again on the rise
http://timesofindia....ow/37146733.cms
sentiment
The HGNSI was unchanged yesterday at -16.7%
. MarketVane was unchanged today at 53%
DSI rose a point to 50%.
i look for volatility to express itself, complacency is about to end. i think the 40+ day will be seen in a year or so as being fairly mild
24 on gdx is a possibility on this correction.
9months before the 21 month cycle ends.
keep your arms and legs inside the vehicle
dharma
Edited by dharma, 25 June 2014 - 10:18 AM.