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Nothing Happened
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I had something come up after the close that required my attention at home, so I will make this brief.
Today was like every other day EXCEPT that crude oil move higher with the dollar after the open (note the inverted H&S bottom on crude oil that is poised to break out to the upside tomorrow).
That rally in oil and the dollar (and to a lesser extent yields) caused the rally in the S&Ps to come in and triggered reversals in the metals.
My opinion hasn't changed. As oil moves higher from here along with the dollar, everything else is going lower, and that regardless of "Deal or No Deal." But my money continues to be on "no deal," which makes things even worse.
My gold model was neutral again.
I made no changes to my positions, although I did add some SLV 66 puts for tomorrow for 10 cents. Fair warning, every time I buy these SLV puts lately we bounce the next day, so look out above.
Lastly, BTC looks terrible on the charts (MSTR even worse), but I'm still lugging my IBIT around because it's a long-term hold for me. I don't trade it.
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While
I cannot provide personalized investment advice or recommendations,
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Disclaimer: Lance
Lewis periodically publishes columns expressing his personal views
regarding particular securities, securities market conditions, and
personal and institutional investing in general, as well as related
subjects.
Mr. Lewis is the president of Lewis Capital, which is a registered
investment advisory firm in Dallas, Texas. The firm regularly buys,
sells, or holds securities that are the subject of Mr. Lewis’
columns, or options with respect to those securities, and regularly
holds positions in such securities or options as of the date those
columns are published. The views and opinions expressed in Mr. Lewis'
columns are not intended to constitute a description of the securities
bought, sold, or held by the firm in its capacity as an advisor.
The views and opinions expressed in Mr. Lewis' columns are also
not an indication of any intention to buy, sell, or hold any security
on behalf of the advisor’s clients, and investment decisions
made on behalf of clients may change at any time and for any reason.
Mr. Lewis' columns are not intended to constitute investment advice
or a recommendation to buy, sell, or hold any security.
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