I need to clear up some house keeping issues– I am fishing for Walleyes this week at a lake in Montana. There is no cell service nor internet service at this area so there will be no Daily nor Weekly until my return on July 13th or until further notice.
In the light trade on Sunday night and Monday, prices have rallied back up to the resistance area just short of $3.80. Rock and role kids but this market is over-extended and will be looking for air shortly. Would not be outright shorting (don’t trust the pockets of those I appose) but utilizing some put strategies may be valuable. When the market closes on a weekly basis at nearly 3 standard deviations over the 20 week SMA basis — go for it kids the risk of the rug leaving your foot far outweighs any additional gains, unless you are one of those special folk who has an algorithm that can pick the top– but if your one of those folk why do you subscribe.