Hands up who is bored to death of this market?
The last four months has been worse than watching paint dry. Volatility is plummeting as market breadth continues to deteriorate.
A few hot stocks keep marching higher and the rest of the market is dead.
That’s why I’m so interested in the current set up in oil. It is about the only game in town that looks remotely close to an exciting move.
If you are a regular reader you will know that I think Brent crude oil above US$95.00 will look super bullish. I am preparing members of my trading services to attack the opportunity because there is little else on offer in such a stagnant market environment.
In today’s Closing Bell video, I give you an update on the situation because oil has jumped 12% in the last two weeks. The situation is touch and go because the long-term trend turned up recently but the confirmation trigger for a trade hasn’t gone off. Yet.
Members of my more conservative trading service Retirement Trader caught the big move in uranium last year before it went vertical and also jumped into a bunch of gold stocks late last year just before gold rocketed to a new all-time high.
If you have followed Closing Bell for a while, you don’t need to believe what I’m saying because you saw it for yourself.
That’s why I’m calling the bet on oil my trilogy trade. It’s the third big opportunity in a year that’s worth going after, in a market that isn’t offering much more than a kick in the pants.
You can gain access to my special report on this brewing opportunity until midnight on Monday, 24 June, by clicking this link. We are reopening access to it for a few days because oil prices are starting to move and I think the risk/reward equation is compelling.
If you need a recap on the oil price and how the chart looks now that oil has jumped 12% in two weeks, watch the Closing Bell video above and then check out my special report after that.
Regards,
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Murray Dawes,
Editor, Retirement Trader and Fat Tail Microcaps
PS: Major banks are forecasting new highs for gold. What do they know that you don’t? Click here to discover five signs pointing to a 1970s-style economic meltdown and the critical role gold could play in protecting your wealth.
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