US equities opened weak, but have already seen a full reversal, with most indexes moderately higher. Broadly though… it should be a day of considerable chop, ahead of CPI. WTIC printed $97.38. Copper $3.31
sp’60min
VIX’60min
Summary
*yours truly is inclined to go shopping again… not least for OXY.
Yet… if CPI is hot, Mr Market might see (at least) an initial smackdown.
So… for now… I’m battling to restrain myself!
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notable stock: OXY
Pressured with WTIC printing $97s.
Very tempting at this price… but I wait!
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notable weakness: GPS
The CEO has abandoned ship. Its difficult to see this one surviving a recession.
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notable stock: AMZN
Its prime day’1 of 2.
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notable miner: FCX
Freeport lower, with copper printing $3.31. Monthly support 23/22s.