Crude oil, comments on blogs, market, Obama, Hillary Clinton, healthcare, Technical Analysis

I am somewhat distracted from the market at the moment, due to a short trip and some other matters. I hope it is not the ostrich effect and I have my head in the sand because I don't want to see what is happening.

If you read this, a comment would be appreciated. I note on my stat counter, I have some folks end up here. If you agree or disagree, that would be great to know. Or you can send me an email at themicrokid@gmail.com.

I have been buying a bit of QID. I wouldn't be surprised to see the market drop, not sure the reason. Possibly the acceptance of almost 100% possibility of Obama as a presidential candidate. He raises the uncertainty level. I think everyone is certain what Hillary would have done in the Whitehouse in any situation. I think they would have been surprised. But Obama has stated a lot of things and the idea of higher taxes is scary. Corporate America may be pretty warm to universal healthcare though. Healthcare today is a major tax on businesses of every size. But there are so many other questions.

Looking at some charts and some quick observations.
The US dollar, may face some resistance here.
$WTIC (on stockcharts), crude oil has been in a well defined channel upwards for about 3 to 4 months. Right now, it is at the bottom of the channel. A touch of DUG might be in order, if it breaks down.
Gold and Silver (GLD and SLV) both seem to have a small inverse H&S bottom possibility forming. Dollar weakness would help this to happen.
I was reading somewhere, small caps led the rally, maybe they are a better short on Inverse equity than the QQQQ's then. QQQQ's appear to have made a double top. But there is some support right below at 48. Sideways channel time?

I was surprised the other day by crude oil going up and DUG going up at the same time. Please understand, these leveraged ETF's are all artificial products. They mostly obey the market, but not always.

I was talking to a nuclear power industry executive the other night. He is long term bullish on more nuke plants. One of the topics we were discussing was hte parts supply for present plants and the need to get safety permissions on every small change in the process of the safety critical parts. This is one reason, hopefully the future will bring very standardized systems to reduce the life cost.

We found it ironic, one of the parts they were sourcing was being made by an Areva plant located in anti-nuclear Germany.

And of course Obama has made antinuclear noises.

I have rambled enough, now I must go face the realities of the day.



Some of my positions: Long QID, DUG, GDX (gold mining ETF), various Uranium plays.

Please don't construe anything I write as advice. You are responsible for your own investments.

Best of Fortunes