AUG 17, 2016
August 17, 2016
Oil is slamming up against resistance.
The odds favor a correction here, probably to the $38-39 area.
This, in turn, would drag on stocks. $38 Oil would pull the S&P 500 to the mid-2000s (probably 2,040).
At that point it'd be time to reassess the markets. The fact is that this rally has come too far too fast. The odds favor at least a 5% if not a 10% correction here.
If you're looking for investment strategies to profit from this, I can help you...
Because I am usually warning about risks in the market, everyone assumes I'm nothing but a bear who has his clients shorting the heck out of the market all the time. Pointing out the risks to the stock market is very different from actively shorting it. The editorial I publish here is focused on alerting EVERYONE about the problems the financial system faces.
However, when it comes to active investment strategies... I do see opportunities to short... but I also see opportunities to go long.
Chief Market Strategist
Phoenix Capital Research