Give Us A Break!

Managing Partner at Tim Knight Organization • Aug 13, 2018 at 3:14 PM EDT

Take a look at the much longer-term continuous crude oil contract, and you can see how vulnerable the energy market is right now.

Quite a day so far! As I am typing this, the SPY is down 1/10th of a percent, the QQQ is up about 3/10th of a percent, but my all-short portfolio is up 1.4%. I’ve got a variety of energy shorts, and I am watching this trendline with great interest to see if it breaks:

(Click on image to enlarge)

A failure of this level would be pretty significant. Take a look at the much longer-term continuous crude oil contract, and you can see how vulnerable the energy market is right now:

(Click on image to enlarge)

Disclaimer:

This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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