OIL BULLS ARE TOTALLY WRONG HERE $CL_F $USO $SCO $XLE $XOP $OIH $UCO $OIL $GUSH $ERX $DBO #OIL

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OIL BULLS ARE TOTALLY WRONG HERE $CL_F $USO $SCO $XLE $XOP $OIH $UCO $OIL $GUSH $ERX $DBO #OIL

This post was just published on ZYX Buy Change Alert and  ZYX Short Sell Change Alert.

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Oil is running as market is interpreting extra stimulus in Europe as positive for oil.  Please the Morning Capsule.

This interpretation by the market is totally wrong.

Demand in Asia, especially China is falling.  After the Labor Day, demand in the U. S. will also fall.

The stimulus is not going to change the demand in Europe.

Enough Senators are supporting Obama that his veto over any Republican attempt to block the Iran deal is likely to succeed.  Iran is going to bring more oil on the market sooner than traders anticipate.

What To Do Now?

Please take a note that this was not an official signal but Intelligence and it was marked for aggressive experienced investors.

There is obviously more risk, but those who can handle it may consider short-selling another 15 to 20% tranche in October CL contract  in the zone of $48.25 to $49.25.  With stops in the zone of $50.31 to $51.43.  For USO and SCO reference, October CL contract has traded as high as $48.42.

A reminder SCO:  DO NOT SHORT SCO.  SCO IS TO BE BOUGHT LONG TO TAKE ADVANTAGE OF OIL POTENTIALLY FALLING.   USO short is strongly preferred over buying SCO long.

See also  WEEKLY STOCK MARKET DIGEST: PRUDENT INVESTORS HEEDING EXTREME SENTIMENT

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