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Bearish at the moment on MRO, RDFN, FB,

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FinancialAdvisor   Thursday, 07/09/20 04:33:24 PM
Re: drifter post# 25946
Post # of 25964 
Bearish at the moment on MRO, RDFN, FB, and NEM

Yes surprisingly NEM, looks to me the U.S. dollar is going to have a rally, at least in the short-term, and potentially a strong sharp one considering it could turn into a short squeeze given the consensus on the dollar is down down down but that trade has gotten crowded.

I see $GOLD breaking south of 1800 as the dollar rally gains strength to close the week.

FB is severely fundamentally overvalued and the technical indicators are showing triple and in many cases quadruple bearish divergences.

Also continuing to watch AAPL, that's become arguably the most croweded trade to the long side, it's clearly in a bubble, but it has even surprised me, exceeding my top call by 2 days. Today's candlestick doesn't look promising, and exhaustion may have finally kicked in? Had some strong red candlesticks into the close.

Oil is in a glut (so is natural gas) as many producers began to turn back on the spickets in July. The inventory report came in as a significant gain of 5.65 million barrels when the consensus was a drawdown! The V-shaped recovery that was touted by Wall Street may turn into a W? Worse case scenario is right now we are the equivalent of Japan in December of 1989 and we'll see interest rates turn negative and this will become the lost generation for the stock market!

Good luck!


HI-HO SILVER !!!
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