10am update – starting positive

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

–
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.
–

notable Dow component: AAPL

Apple should hit psy’ $200 in Q1… but I’d expect some sellers from around there!
—

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.
—

notable miner: FCX

Freeport early weakness… but turning sig’ higher!