Anyone who didn’t have a look at it should watch the Carter Worth video that is linked on Monday’s report. Bottom line is that the bottom of the long-term channel suggests a hard bottom for SPX around 3200. We could have another 12% drop but that is a worst case scenario.
XLE – Continuing to follow through on it’s break through resistance. There is a continuing relative underperformance by the Cdn energy sector (XEG). You have the widest spread between WTI and WCS in many years.
COP – Has been making new highs since Oct 7th. DVN is another energy name performing well paying an 8.65% div.
XEG finally broke resistance at 16.14 just barely by hitting 16.15 technically completing a double bottom formation. The heavy lifting has been done by CNQ and SU. The caveat on holding US names is a possible reversal of USD strength in a risk on market if you don’t hedge currency. OXY (Buffett’s big bet holding) is another name. I like charts like OXY where you have months of consolidation with the rising 200 day MA finally catching up to price propelling it higher. On energy and CNQ particularly the video posted below is interesting.
I didn’t go to Calgary for my hip surgery after all. The Victoria Surgical Center had a quicker spot here on the 12th and it was free. Calgary would have cost over $30,000 overall and been 2 weeks later. So I guess I just made $30,000. Not a bad catch. But I don’t recall having this much pain for so long after when I had my other hip done 16 years ago. People day “you’re older now” but that doesn’t cut it for me. I think the drugs they give you today are “mamby pamby” drugs. So perhaps I’ll be able to jump up and down and wave my arms around down the road……………
When i got my surgery for the rotary cuff 7years ago they gave me morphine they told me to start taking it when i started having sensation, I did as recommended oh god morphine didn’t do it for me (not even a buzz what of waste of money that was ). The best med was a mix of 2 extra strenght tylenols and 2 advils alterning every two hours barely felt the pain. But the weight of the arm by the end of the day was exhausting not to say excrutiating.
Thanks for the info. I’ll try something like that. I did get a prescription for Tylenol with Codeine but unless you take 3 they don’t do much. And you cant mix some drugs,so they say. I can’t believe the pain lasts this long after my surgery on the 12th. All I want to do now is lay down and sleep. But I’m sure it will heal at some point and just be another bad memory. I’ve got a few of those for company.
October 21st, 2022 at 9:58 am
Anyone who didn’t have a look at it should watch the Carter Worth video that is linked on Monday’s report. Bottom line is that the bottom of the long-term channel suggests a hard bottom for SPX around 3200. We could have another 12% drop but that is a worst case scenario.
XLE – Continuing to follow through on it’s break through resistance. There is a continuing relative underperformance by the Cdn energy sector (XEG). You have the widest spread between WTI and WCS in many years.
COP – Has been making new highs since Oct 7th. DVN is another energy name performing well paying an 8.65% div.
October 21st, 2022 at 3:05 pm
XEG finally broke resistance at 16.14 just barely by hitting 16.15 technically completing a double bottom formation. The heavy lifting has been done by CNQ and SU. The caveat on holding US names is a possible reversal of USD strength in a risk on market if you don’t hedge currency. OXY (Buffett’s big bet holding) is another name. I like charts like OXY where you have months of consolidation with the rising 200 day MA finally catching up to price propelling it higher. On energy and CNQ particularly the video posted below is interesting.
https://www.bnnbloomberg.ca/video/rafi-tahmazian-says-it-s-time-to-wake-up-energy-system-needs-massive-investment~2547285
October 21st, 2022 at 4:50 pm
MID TERM Elections in the U.S.next month so I don’t expect the broad market to fall out of bed until that is over……………………
October 21st, 2022 at 6:14 pm
-NOT TRADE RELATED.
I didn’t go to Calgary for my hip surgery after all. The Victoria Surgical Center had a quicker spot here on the 12th and it was free. Calgary would have cost over $30,000 overall and been 2 weeks later. So I guess I just made $30,000. Not a bad catch. But I don’t recall having this much pain for so long after when I had my other hip done 16 years ago. People day “you’re older now” but that doesn’t cut it for me. I think the drugs they give you today are “mamby pamby” drugs. So perhaps I’ll be able to jump up and down and wave my arms around down the road……………
October 23rd, 2022 at 9:41 pm
Hi Ron,
When i got my surgery for the rotary cuff 7years ago they gave me morphine they told me to start taking it when i started having sensation, I did as recommended oh god morphine didn’t do it for me (not even a buzz what of waste of money that was ). The best med was a mix of 2 extra strenght tylenols and 2 advils alterning every two hours barely felt the pain. But the weight of the arm by the end of the day was exhausting not to say excrutiating.
October 24th, 2022 at 12:28 am
Hi Tony
Thanks for the info. I’ll try something like that. I did get a prescription for Tylenol with Codeine but unless you take 3 they don’t do much. And you cant mix some drugs,so they say. I can’t believe the pain lasts this long after my surgery on the 12th. All I want to do now is lay down and sleep. But I’m sure it will heal at some point and just be another bad memory. I’ve got a few of those for company.