US equities open on the most positive note possible… a new historic high! VIX remains net higher, but the gain is largely technical (due to the new week). WTIC has recovered to $73.70, with next resistance 74/75/76s.
sp’60min
VIX’60min
Summary
Regardless of the rest of the week… with a new hist’ high, its a week for the equity bulls. Considering how s/t overbought we are… its impressive.
I have partly exited MOS and FCX
Yours… raising funds to buy something else… probably F and/or CRSR
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notable stock: UAL
Airlines whacked lower on flight cancellations. Mainstream are naturally just saying its ‘staff shortages’, but it should be clear, staff are calling in sick in protest against the mandates. I do like UAL, but don’t own.
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notable Dow component: AAPL
Apple should hit psy’ $200 in Q1… but I’d expect some sellers from around there!
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notable energy: OXY
Energy stocks were whacked… but very briefly, with them already turning green, as the smart money will be buying on all such cooling waves.
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notable miner: FCX
Freeport early weakness… but turning sig’ higher!