Happens every Friday on weekly opex.
Stronger USD also hammers Gold.
M developing on the weekly Gold Chart.
Just waiting for the piercing of the pennant to the downside and you'll see a flood of sellers come in. 1218 support will fail and you'll see 1180-1190 in a flash.
Who knows if that will hold and you are about to see a very large reversal. NUGT gets punished 3x as bad and decays on the down moves. So I'm looking at $45 or lower pretty quickly.
Get out please.
retrace. I wouldn't exclude $45 out of the equation. Gold will likely hit 1180 in the next few days.
Contango is huge 11%. This means it is costing 22% on a monthly basis to roll over the futures to the next month.
Oil slide might be limited as the US production drops off the cliff. Sandridge and couple of others are already announcing bankruptcy filings. So watch those oil futures on Wednesday.
I say 1,000,000 preorders and production will ramp up quick. Just imagine when other automakers join into to catch up. Almost all cars in production 4 years out will have some sort of plug and go 50 miles minimum on a charge.
What does all of this do to oil? We are witnessing a revolution. 100 years ago it happened that cars displaced horse and buggy. Now it is happening again.
I think in 100 years people will use flying cars.
All other automakers will be making plugins to try to catch up. What does that do to oil short and long term?
I don't think oil recovers for a long time. If it does there is plenty of competition to keep pumping.
They always kill the shorts in the end.
With 88% short, this could go to $200 as they trample over each other to buy it back.
to the dash. I'd buy one if they make it look more like Model S.
Interior is ridiculous. No dash and Giant Ipad Velcro+ed in the middle.
Load up there.
Who would invest at this valuation. Worse than Valeant.
Shorts are covering and EPS will go up big time with tariffs.
2000 shares should make decent money. After FED this goes to $17.