Ed Moya – Recession Outlook and Oil’s Big Week Ahead
Ed Moya, Senior Market Analyst at OANDA joins us for a discussion on recession outlooks for the US and globally. We focus on recent economic data balanced with a shift in expectations toward more rate hikes from central banks. We then shift the discussion to oil. Breaking above $80/barrel today oil has been range-bound but Ed lays out what to watch for in terms of upcoming drivers.
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Click here to visit the OANDA website to read Ed’s daily market note.
Forgot about the markets today, instead watched an old video of Pistol Pete Maravich dropping 68 points on the Knicks in 1977.
The latest great Serb!
https://tinyurl.com/2mty5nwc
Added to IAUX @ $2.25
Nicely done Marty. I added some IAUX last week at $2.29, and would like to add one more tranche on any further pullback down closer to the $2 level.
One more stink bid in place for IAUX @ &2.09 ( 5+% below the CURRENT lower BB LEVEL)
Yeah, good thoughts on that target Marty. There is a lot of congestion from prior peaks and troughs between the $1.90s – $2.20’s so anywhere down in the lower $2’s should be a good spot to throw another shrimp on the I-80 Gold barbie….
That weekly chart is pretty crazy. Love to see the retest of the breakout as a buying opportunity. I’m happy if we never close the week under 2.20 again. If it’s anything other than a very quick spike down $2, we could end up waiting another six months down in the lower end of the range. Though I guess we’re all very used to that at this point.
Good thoughts DL. Yeah, if we never get down there in IAUX, it won’t hurt my feelings, as I’ve got a solid position in place to participate in any upside blasts. Ideally, I’d just like to add one more final tranche at a lower cost basis before medium-term to longer-term lift off in the I-80 growth story.
I would take the opportunity to add as well. The way the chart looks now though it seems like going down there could result in some ongoing negative momentum and being under a lot of overhead supply that might take a while to work through. I’d rather not have to wait for yet another round of shareholders who bought higher to capitulate and for distribution to end at a lower level when that can happen at the retest of the breakout right around where the price is now. I want the last seller to capitulate here in this base and not a new one back at 1.60 or something.
I think I always get nervous whenever we’re moving down off a high and don’t stop until we are under where most of the volume of the trades have occurred.
https://schrts.co/URNPuNyG
https://www.stockwatch.com/News/Item/U-b20230301005506-U!NFGC-20230301/U/NFGC
Looks pretty good to me.
Since I’m censored out of politics, I.m looking at resource stocks again.
Hi CFS, you are in Korelin jail, they turfed you out and made you an orphan, worst things can happen, you don’t know it yet, but you just died and went to heaven. Welcome to the investor’s forum. LOL! DT🤣
You are wrong Mr. Tracy!
Hi Big Al, I hope you are staying out of trouble like me. DT
It is a tough row to hoe…….. in the ORPHAN SECTION…..
Some have flipped out… 🙂
Just some!!…………………. 😉
Current events kept some for getting the JAB…. 🙂
for to from….. sorry
WOWZER! I was looking at Betapro Natural Gas Leveraged Daily Bull ETF SYL-T.HNU after Terry mentioned it yesterday, what a wild swing, it has fallen 26% today. Like Ex says these stocks are widow makers, I think I have found a new interest. LOL! DT