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I could see the miners rising with oil. Gold looks stuck. Oil could be stuck for awhile too. Caterpillar CEO says mining has bottomed.
While I’m more bullish on energy stocks than miners I’m not very bullish on either one right now. I think the best bet for a sustainable trend is in the US stock market until we get into earnings season. Then maybe a dip down into a half cycle low.
Appreciate your general analysis and sentiment Gary…….. Gives me a gauge on my interests for sure.
Hi Gary – How are you playing the buliishness on OIl rebound. I picked up some USO last week. thoughts?
I’m not doing anything with oil right now. OPEC keeps stating over and over they will not cut production. There is obviously a political component to oil. Until that ends I have no idea how low OPEC wants it to go.
This explains how an extreme right translated cycle can fail and how an intermediate cycle can stretch so far beyond the normal timing band that it isn’t even believable.
In a natural market, even if was still going to ultimately go down, would have triggered a counter trend bounce months ago.
Oil is being used as a political weapon so I think I would stay away from it.
Added another 12.5% remaining cash into inverse GOLD miner DUST near the close.