Is Alan Greenspan Shorting The Stock Market?

Former Federal Reserve Chairman Alan Greenspan said he sees the U.S. economy slowing next year as the surge in stocks comes to an end. “The odds are that we flatten out, even though earnings are doing very well,” Greenspan said in an interview with Bloomberg Television, referring to the equity market. That flattening out will probably “put some sort of dull face” on the economy in 2010, he added.The former Fed chief said he sees little...

What Are The Best Stocks To Short Now?

As the market rallied to such an extreme level there are probably lots of good shoting candidates on the US markets. I think it would be interesting to open a debate here on the best stocks to short right now.Is the dollar going to recover somewhat and are the mining and basic resources stocks that will give us the best bang for the buck? If this is the case, maybe United States Steel Corporation (X), Freeport-McMoRan Copper & Gold...

Will The US - China Trade War Send The Markets Tumbling?

"China said Sunday it would review complaints about U.S. exporters' pricing of chicken and auto products after Washington's move to slap punitive sanctions on Chinese tire imports, raising tensions in a trade dispute ahead of two planned meetings between the countries' leaders." in the Wall Street JournalIs this the match that will ignite a market correction? I think it is. I am watching the early price action in Asia and markets are looking...

Art Cashin Says That The Market Resembles The Summer Of 1987

“There’s just some eerie things about this—it’s reminiscent of spring and summer of ‘87 when nobody believed the rally and it kept going up despite skepticism, people shorting into it. It ate them alive until it suddenly turned.” says Art Cashin.Is this a reminiscences of the 1987 stock market crash? Very interesting words from the veteran trader Art Cashin. He has been wrong all along, being bearish since late March or May but is he regaining...

Time To Short Oil?

Crude oil futures prices ended the session lower on Friday, posting the biggest single-day loss in 2 weeks.NYMEX October Oil Futures dropped 3.7%, or 2.65 dollars a barrel, to 69.29 a barrel. That was the biggest decline since Aug. 31 and followed four days of gains that pushed prices up by nearly 4 a barrel on the "dollar weakness trade"."It's the continuing battle between (weak oil supply/demand) fundamentals and economic optimism and...

US Markets Have Done Nothing In 8 Years

"Eight years have now passed since 9/11, and the Dow is essentially unchanged since that horrible, sad day. On 9/11/01, the Dow was at 9,605. The index is currently trading just 15 points below that level at 9,590." in Bespoke Investment Group WebsiteAfter all the bull and bear markets of all these years the Dow Jones moved less in 8 years then it normally moves in a hour. Remarkable, n...

Longest Streak Since November. Can It Continue?

U.S. stocks gained for a fifth day, the longest streak for the Standard & Poor’s 500 Index since November. The S&P made a fresh 11 month high and keeps defying gravity. I do not have any trading position on the S&P Futures but I am short Dax Futures and feeling the pain. I am off over 130 points in just 2 trading sessions.But even more frustrating then that is the behaviour in the Euribor Futures complex. I am losing in that...

Natural Gas Futures Seasonality. Time To Buy.

This is the Natural Gas Futures seasonal graph that was sent by one the members of this trading community. As you can see this is the best time of the year to be long Natural Gas Futures. The seasonal graph shows us that September and October are the best months for Natural Gas prices increases.As you know I bought October Natural Gas Futures last week at 2.500,...

Shorting S&P Futures. Buying US Dollars.

On the reaction to the Employment Report I sold some more S&P Futures and I closed the Nikkei`s that I had paired with some S&P`s overnight. All this indecision makes me think that we are at an important crossroad in this market.I will get back to the Nikkei Futures soon, hopefully after a meaningful correction. I am turning dollar bullish again and I am testing the market with a small long US Dollar, short Euro currency position.Natural...

Waiting For The Employment Report. Consensus Is -200K On Non Farm Payrolls.

It will be important to read the market`s reaction to the data because I think we will have a major move one way or another. So I have my orders lined up on my trading platform so that i can hit them as soon as I need to.My commitments are rather heavy so I have to read it right and act fa...

Risk Taking Appetite. Major Commitments In The Market.

My risk appetite is making multi months highs. I couldn`t stand aside the collapse in the Natural Gas Futures and I bought some futures at 2.500. I was looking at a price chart and I am pretty sure that a major rebound is imminent. I had no fear and I bought a few contracts that I plan to carry for a few trading sessions.I was also looking into some beaten down stocks and I bought a few Hecla Mining (HL) shares. Silver and precious metals...

Buying Natural Gas At 2.5000

I am buying Natural Gas Futures at 2.500. This is the most oversold market I have ever seen and I always get a big bang when I am able to buck such trend. I am probably betting a bit more then I should but I am expecting a big rebound at any time now. I have to admit that my heart is racing but that is probably a sign that the market is about to reverse.This futures expires in September 28th and between now and then I should be able to...

Correction Is Under Way. We Are On FED Alert.

I have seen this before. Markets are beginning to sell off worried that the easy monetary policy is coming to an end sooner then expected.I am carrying a bigger short line having added some shorts at 1022 and 1019. I have a first target at 1000 but I think we are going a lot lower then that. Financials like Citigroup Inc.(Public, NYSE:C) and Wells Fargo & Company (Public, NYSE:WFC) are leading on the way down tod...

Very Active On The S&P Futures.

Very important economic data points are coming out later today:- ISM Manufacturing, 50.5 is expected;- Construction Spending, 0.0% is expected;- Pending Home Sales, no estimate availableI am closing my short line at 1015 and waiting for the data to decide what to do next. Economic data has been stronger then consensus in general but the market reaction has been rather soft. I am leaning to the short side but I will watch these data points...

Over a Barrel - The Truth About Oil

Last night, ABC's Charlie Gibson presented "Over the Barrel - The Truth About Oil." The program was a well-crafted presentation about the supply side issues of oil. However, there were some notable problems.First, the program began with news clips about America's addiction to oil but provided minimal demand-side analysis of our appetite/need for oil. If we are truly addicted to oil, we need to address ways to use oil and energy more efficiently....

Obama's Tax on Oil and Gas

I recently received a letter from Jim Hackett, Chairman, President and Chief Executive Officer of Anadarko Petroleum Corporation, asking for my help in a grassroots campaign to inform elected officials about the the $400 billion in new taxes that the Obama Administration proposes on the American oil and gas industry.Now I found this kind of surp[rising because Mr. Hackett has never contacted me before. No cards on my birthday, no fruit...

Industry Needs Stable Funding

In reporting on the May Offshore Technology Conference in Houston, the Oil & Gas Journal said that "Oil and gas companies are becoming more adept at maintaining long-term business strategy in the face of short-term uncertainty stemming from oil price cycles." In a session on "Coping with price volatility: how will it affect major capital projects," executives discussed cost-cutting measures that include lowering capital budgets and...

Short-term Savings May Lead to Long-term Problems

Parade magazine had an interesting article titled "Who Profited From Oil Prices?" in the January 25, 2009 edition.A more appropriate title might have been "Who Profited from Lower Oil Prices?" as the story indicated that the winners were consumers who benefited from a $2/gallon drop in gasoline prices for annual savings around $282 billion and hedge fund managers who shorted oil.The losers were OPEC and other major producers who saw their...

New International Gas Cartel

Add another log to the fire. Consumers may be soon be using this option if world natural gas producers have their way.Russia, Iran and Qatar recently met in Tehran to discuss an OPEC-style cartel to control world natural gas markets. This poses yet another threat to the world economy and political stability. Funneling more money into Iran and Russia is hardly a formula for world peace.These three countries control more than 55% of the world's...

OPEC Struggles with Eroding Prices

Our friends in OPEC are meeting November 18th to discuss the impact of the global financial crisis on oil prices. The decline in oil prices prompted the emergency conference. Light, sweet crude oil for November delivery fell to $86.59/B on October 9th. In the department of "liar, liar pants on fire," OPEC announced:It would work "to ensure market fundamentals are kept in balance and market stability is maintained." Shukri Ghanem, head of...

OCS Moratorium Expires

The ban on offshore drilling quietly expired on September 30th. However, the battle is far from over as OCS leasing opponents are expected to continue their efforts. According to Sen. Robert Menendez (D-NJ), "Expanded OCS drilling is bad energy policy, bad environmental policy, and it will do nothing to lower the prices at the pump, now or ever. This country deserves a serious debate about energy and not just election year posturing." Senate...

Industry Image is Battered by Ike

The oil and gas industry's already bad public persona is taking another hit. This time courtesy of Hurricane Ike. The widespread gasoline price jumps that occurred ahead of the storm surge have further diminished the industry's image. Gasoline prices rose to $5.49/gallon in Tallahassee, FL and $4.99/gallon in Knoxville, TN. The Knoxville price of regular gasoline was $3.66/gallon on Friday. One might expect price increases as a consequence...

What is Energy Independence?

Over the next two months we will see the topic of energy independence discussed and dissected by candidates and commentators. In order to achieve a goal of energy independence, Americans and candidates first need to understand what the goal really means.The place to begin is where we are today. According to the Energy Information Administration the United States used 101.563 quadrillion Btus of energy in 2007. Of that total, net imports...

Where’s the Oil and Gas?

With all of the discussion on offshore drilling, I thought it might be useful to examine where we might expect future domestic supplies to come from.According to assumptions for the Energy Information Administration’s Annual Energy Outlook 2008, the U.S. has 165.67 billion barrels of technically recoverable oil and 1,364.61 trillion feet of technically recoverable natural gas. These estimates do not include areas where drilling is officially...

Taking the Point on Renewable Energy

Who will lead the transformation of the world’s energy supply from fossil fuels to renewable energy? One might suggest that the current group of fossil fuel providers change their focus from depletable fuels to a different form of energy. However, this makeover seems highly unlikely.Oil and gas companies define themselves as providers of crude oil, natural gas, refined products and petrochemicals. An examination of the mission statements...

Ideas to Reduce Gasoline Prices Now!

As our recent post noted, McCain and Obama have had little to offer in the way of immediate relief to high gasoline prices. To add salt to our wounded pocketbooks, Congress has done nothing to address this issue and will take a undeserved holiday next week.My suggestion is to e-mail your Congressman and ask what they plan to do about this issue. We pay their salary! Isn't it about time they actually earned it by working together to address...

Obama and McCain Offer Little Solution to Pump Prices

Senator McCain is suggesting a summer break from the Federal 18.4 cents/gallon federal gasoline tax and Senator Obama wants a Windfall Profit Tax on “Big Oil.”McCain also wants to allow offshore drilling on federal waters, build 45 new nuclear power plants and award a $300 million prize to anyone who can develop a superior car battery. Obama wants to go after oil speculators and wants to give subsidies to solar, wind, ethanol and other...

Exxon CEO Advocates Fuel Efficiency

At the Exxon Mobil Annual Meeting, Chairman Rex Tillerson rejected efforts by members of the Rockefeller family to invest in alternative fuels. Tillerson indicated that Exxon Mobil specializes in oil and gas and that alternatives don’t make much money.Tillerson said that “the way to deliver meaningful environmental improvements in the short term is to improve the efficiency by which we use traditional fuels.” He said that Exxon Mobil’s...

House Wants to Sue OPEC

In a move that indicates Congress’ frustration with rising gasolline prices, the House of Representatives overwhelmingly approved legislation that would allow the Justice Department to pursue legal action against the Organization of the Petroleum Exporting Countries for conspiring to restrict supplies and drive up prices.The House OPEC measure was approved 324 to 84. A similar measure, dubbed NOPEC for the No Oil Producing and Exporting...

Higher Gasoline Prices Ahead

If you think that gasoline prices may peak around Memorial Day, you may be in for a big surprise.Today, we were analyzing crude oil prices and noticed a disturbing difference in Spot Prices (Spot) and the actual price U.S. refiners pay for crude (Refiner's Acquisition Price or RAC). Over the period 2000-2007, the difference between RAC and Spot has averaged $3.85/B. However in the last year (April 2007-March 2008), the difference has increased...

Do Oil Prices Have to Go Higher?

Brendan's comment on the inevitability of higher oil prices offers several good reasons for his conclusion.While we also believe that the long term trend will be for higher prices, however we would like to offer the following qualifications:Growth in Emerging Economies --> Rising Oil Consumption - The rate of development of emerging economies is the primary reason for the increase in demand. However, these economies are highly dependent...

Refinery Capacity and Gasoline Prices - Follow-up

In response to the comments posted by Corey, gasoline demand does impact retail prices but not as strongly as crude oil prices. So while both variables are important, changes in crude oil prices explain the majority of fluctuations in pump prices. Unfortunately, it takes a significant reduction in demand to lower pump prices. So pump prices are lowered by decreasing demand. Another aspect of this issue is the effect that higher oil prices...

Quite Whining and Take Action

Americans continue to complain about gasoline prices while doing little to help reduce their costs. Motorists grumble about oil company profits and demand government actions. However, consumers do little to seek solutions to the problem of higher transportation costs. While we cannot control gasoline prices, we can reduce our use by improving the fuel economy of our car and lowering the number of miles we drive.The following suggestions...

Keeping Our Options Open

I have been gradually coming around to the problem of global warming. As an oil and gas industry employee, I was somewhat skeptical of the claims made by scientists. Unfortunately, I found that my skepticism was based on ignorance of some of the scientific findings.Let’s face it, global warming is a reality. Temperatures are rising and changes are taking place. Some people believe that the problem is overstated and that long-term climate...

2008 Crude Oil Prices

This is the time when people want to know what oil prices will be in the coming year.As a 40+year veteran of the oil price forecasting wars, there a couple of caveats that need to be presented. First, oil price forecasting is a fundamental budgeting requirement for energy producers and consumers. Second, no matter how clever, insightful and lucky you are your forecast will be wrong.The U.S. Energy Information Administration in their updated...

Silicon Valley's Jobless Unplug From Tech

They're going where the money is going. If the money was flowing to the whittling sector, we'd have more whittlers in the Valley, ipso facto.From the Wall Street Journal:As Region's Unemployment Rises to 11.8%, Above National Average, Clean Energy and Health Care Draw More ApplicantsJobless workers in Silicon Valley are giving up on the region's dominant technology industry and trying to switch to other fields, as the area's unemployment...

Will History Repeat Itself?

Over the period 2001-2006* World oil consumption increased by 6.9 million b/d or 9%* Demand growth in China accounted for 37% of the volume* Increased consumption in the United States contributed 14%* This growth occurred in spite of a 280% rise in OPEC oil prices from $19.73/B to $55.35/BThis is a marked difference to what occurred between 1979 and 1982. *...

New and Old Beam Pumps

Somertimes when we think that something is a "modern" invention, it turns out to have been around a lot longer. Take for example, the beam pump, a staple of oilfield production since the early 20th century. The pump jack is used to bring oil from the reservoir below the surface to the surface.It seems that this oil patch fixture has been around a lot longer...

Will Cisco Kid Set The Mood For A Correction?

I think this bull run has already lived through all its seven lives. Maybe Cisco Kid can set the tone for tomorrow and all we need to begin a meaningful correction is a wide range day down. Maybe we will get it tomorrow. Cisco Systems is trading down over 3% in the after hours session.I am short S&P Futures and I am being very patient with my short lines. Off course that the profits from my short Schatz position are smoothing the path...

How Severe Will The Market Correction Be?

This is the price graph of this recent run up on the S&P 500 Index. The stock market moved up more then 120 points in 17 trading session without any pullbacks. This is obviously prone to a correction that can be soft or pretty severe. If the market corrects a third of this move, it will trade down to 960. That is my target for the next few trading weeks.Yesterday...

API Inventories Released: Crude Stocks Fell 1.5 Million Barrels

U.S. crude futures rose in post-settlement trading on Tuesday, after industry data showed a surprise drawdown in crude oil inventories last week against the forecast for a stock build. Earlier, NYMEX September crude settled lower for the first time in four sessions on profit-taking ahead of supply data.The API said that crude stocks fell 1.5 million barrels to 350.9 million barrels as imports dropped sharply. Distillate stocks declined...

S&P Is As Overbought As You Will Ever See It.

This is the most overbought market I have ever seen. I have seen several times similar stretched situations but always on the downside like in March where the markets were equally oversold. But the fact is that I have been short the S&P Futures for the last few trading sessions and I am only losing 10 or 12 points. So I am only a session away from being...

Dr. House Is Going Nowhere. 2 Year Schatz Shine.

Dr. House is pretty tired and he and his cane are going nowhere. We are in the summer dollrums, and the S&P is very quiet. I don`t expect much for the remaining trading session and I keeping my S&P shorts for a few more rounds. The 2 Year Schatz Futures keep performing beautifully. Its has the potential to turn out to be one of my best trades this year. Its doing very well so far.I will end the session richer then I began no matter...

The S&P Resembles Me Of Dr. House

The S&P was beginning to look like DR. House. He can walk but he cannot run. As you know I am short S&P Futures at 987 and I am not worried a bit because Dr. House cannot run away from me. I will catch him whenever I decide to get up and run. And it seems that will happen today because markets are looking very soft in pre-market.Petroleum Oil Gas info Blog is a website for active online futures and stock traders. I will provide...

Crude Oil Trades At 10 Month Highs

Oil and natural gas futures prices rose sharply today on the weakening dollar and on new signs of life from manufacturers that suggest the recession may be near the end. NYMEX Crude Oil rose 3 percent, over 2 dollars a barrel to settle at $71.58 a barrel. It was the third straight day of substantial increases on the energy futures markets and the first time in a month that crude traded above $70. Crude oil is trading near to a 10 month...

S&P Is Resilient. Still Short.

it was a decent day all together. The Schatz Futures were crushed today (it was even better then I had wished for) and the S&P`s kept rising offsetting the P&L.No big deal. I am keeping my short lines for the imminent market correction. Having a moderate short line I can seat patiently while other traders still feel this market has upside potential.I am feeling pretty relaxed today. If you have a few minutes to spare check Jose...

ISM Data Comes Better Then Expected. Bonds Sell Off.

The ISM Index came above expectations but the Prices Paid Index shoot up to 55. Bonds sold off on the news and I think that will drag the S&P Futures lower. I am keeping my short line.Petroleum Oil Gas info Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpa...

Time To Do A Test Buy on Natural Gas?

Natural Gas Futures are once again hovering near a multi year low. The million dollar question is: "Is this the bottom for Natural Gas?"I don`t know. I wish I knew. But what I know is that Boone Pickens canceled a wind farm because natural gas was so cheap that utilities were using it to produce energy. This means a lot. Natural gas is becoming the cheapest...

Greenspan Says The End Of The Recession Is Near

Alan Greenspan, the ex-Chairman of the Federal Reserve made some interesting comments regarding the health of the US economy. Alan Greenspan highlighted the sucess of the cash for clunkers program that shows that the economy is picking up."Former Federal Reserve chairman Alan Greenspan says the economic downturn is not quite over but that the end is nearing.Greenspan says that the health of the financial system has improved significantly....

I Believe Short Term Interest Rates WIll Come Up And Stocks Markets Will Trade Lower

As you know, I am shorting the S&P Futures and also shorting the 2 Year Schatz Futures, the 2 year german government futures. This is how I am going to play the next few weeks. My son will be born any day now and I am playing for the intermediate term because I may not be able to trade for a few days or weeks. I plan to be keep my trading platform shut down for the first 2, 3 weeks after Enzo`s birth.I am going to a music concert tonight,...

US Natural Gas Fund Cannot Issue More Shares Without Authorization

This was the reason UNG was suspended earlier today,"The United States Natural Gas Fund will temporarily suspend issuing new shares pending regulatory approval to expand the number of shares it can issue to 1.2 billion, the company said in a filing with the U.S. Securities and Exchange Commission on Tuesday.The U.S. Natural Gas fund , also known as UNG, filed on June 5 with the SEC for permission to issue 1 billion new units, adding to...

Volume Is Anemic In The US Stock Market

Bespoke has a very interesting article on the anemic volume of the US stck market, "Using the S&P 500 tracking ETF (SPY) as a proxy, the 50-day average dollar value of volume in the ETF has declined by 54% since its peak last Fall. It is also currently at its lowest level since the S&P 500 peaked in October 2007."In the graph below we can see the drop...

Good Trading Quote From The Book I am Reading

I really enjoyed this passage from Curtis Faith in the "Way Of The Turtle", "Good trading is not about being right, it is about trading right. If you want to be sucessful, you need to think of the long run and ignore the outcome of individual trades".Very good material.Petroleum Oil Gas info Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpa...

Great Trading Book: "Way Of The Turtle"

This weekend I re-read the "Way Of The Turtle" while I was lying around the swimming pool. The "Way Of The Turtle" is a fantastic trading book from Curtis Faith, one of the original turtles. I read it last year but I really enjoyed this re-read. Perhaps because I am doing a lot of systematic, system generated trades these days.Trading coach Van K. Tharp considered it one of the best five trading books ever written and I agree with him....

Oil Had Its Biggest Quarterly Rise In 19 Years

Nymex Light Sweet Crude Oil Futures jumped 41 percent in the second quarter, the biggest since 1990.This rise was not driven by demand at all. This is the reason why some many great traders were caught on the short side of this trade. Petroleum Oil Gas info Blog is a website for active online futures and stock traders. I will provide my real time trading decisions and my market thoughts on this webpa...

Bad Economic Data. 2 Good Trades.

The economic data released today was quite disappointing. Both the Chicago PMI and the Consumer Confidence Data printed below expectations.I have made 2 good trades today, one short Crude Oil Futures trade from 71.00 to 70.50 and one short trade on the EURO Currency Futures from 1.4100 to 1.4050. They were both mechanical trades generated by a system I have developed.I will not trade any discretionary plays until Enzo is born, and he can...

Latest Hugh Hendry Interview

Latest Hugh Hendry`s interview. Hugh is my favourite money manager but he has been completely wrong footed since March. He was on CNBC earlier today."Fears about inflation and hyperinflation could create another economic downturn, bigger than the one the world went through, Hugh Hendry, chief investment officer at hedge fund Eclectica, told CNBC Tuesday." in CNBCUse Internet Explorer or Google Chrome browsers to watch this video. Mozilla...

IEA Cuts Oil Demand Through 2013

The IEA, has cut five-year forecasts for global crude demand because of the economic slump, predicting that consumption will not regain last year’s levels until 2012.The IEA cut its oil demand estimates for every year through 2013 by about 3 million barrels a day, stating that consumption will average 86.76 million barrels a day in 2012, the first year it will rise above 2008’s level of 85.76 million barrels a day.“The deep economic recession...

Taking A Trading Vacation.

After having a fantastic start to the year these last few weeks have been rather difficult. I got trapped on the short side of the oil market and I was only able to do some good S&P Futures trading and two other good trades on Natural Gas and on the 2 Year Schatz Futures on the ECB meeting day.But I am feeling out of sync with the markets and a bit tired. I have closed all my trading positions and I will do a small trading vacation....

Buzz On The Oil Trading Desks

Oil trading desks are a busy place. Today the talk was about economic news, Iran, stock market and hope:"Any shred of decent economic news gives bulls a positive reinforcement while bears continue to shake their heads. Hope has been a big factor in the oil market in the past two months." Andy Lebow, senior vice president for energy at brokerage MF Global"The market got a little support from the stock market and consolidated its recent gains,"...

ENI`s CEO Says Demand Is Not Behind This Rally

The rise in oil prices this year has not been caused by a rise in demand, the head of Italian energy firm ENI said on Wednesday. "I don't see the consumption, I don't see the reason why oil prices should move up again," ENI Chief Executive Paolo Scaroni told reporters during a presentation about mechanisms to reduce volatility in the oil market.I am still short Nymex Crude Oil Futures but I was able to reduce some positions when oil traded...

G8 Finance Minister Says Extra Liquidity Is Fueling Oil Speculation

"Italy's finance minister Saturday expressed concern that the big stimulus used by the Group of Eight leading economies to fight the recession was already recreating the kind of financial speculation that was at the root of the economic crisis.Giulio Tremonti told a news conference at the end of a meeting of G8 finance ministers that financial speculation had returned, especially in oil markets, where prices have recently risen sharply,...

What Is Driving The Oil Market?

A look at this week's energy inventory data, with Ray Carbone, Paramount Options. Ray explains what is driving this market. Very interesti...

Is The Market Topping? Guerrilla Trading.

It was a very stressful day, holding a big short S&P position. I got scared a few times with the several rally attempts but the S&P`s ended the day flat. Bull forces were still at work for the most part of the trading session.I did some guerrilla trades like buying EUR/USD for a 30 ticks profit and some Nasdaq`s for a quick scalp after 2pm in the afternoon NY time, the "institutional prime time hour for buying". So the trading day...

Less Oil, More S&P`s

I closed half of my short oil position and added the S&P Futures that I closed last Friday at 910. Now I have re-shorted them at 936.50, almost 25 points higher in less then 24 hours. I think the stock market will probably have a bigger sell-off then oil.I am short with a pretty big position on the S&P Futures. I think the time is right.Keep a close eye on the long term bonds today. They may sell off again and push the stock market...

Oil Rises 30% in May. Biggest Gain in 10 Years.

Oil prices have risen roughly 30 percent this month — their biggest monthly gain in 10 years. This is a good example of an overbought market becoming more and more overbought disregarding conditions. Profit taking and fundamentals will send this overbought down for a big correction soon and then I will be able to quote Jesse Livermore, "But I can tell you after the market began to go my way I felt for the first time in my life that I had...