| Hey Trader, We live in an age of "Now." We want everything right this instant. We don't want to wait for things. Think about it: you can order nearly any food to your door from like 5 different services, knock out your holiday shopping online, buy now and pay later with your credit card, and find the answer to nearly any question with a quick Google search. Unfortunately, careers and business don't work that way… Is the Market Overbought? There's no money in bonds. Interest rates are virtually non-existent in CDs and savings accounts. And turning a profit in real estate is getting harder and harder every year. As a result, more and more investors are turning to the stock market… And it begs the question: Is the market overbought? And if so, are we headed for a massive correction? I filmed a video to give my thoughts on these questions… Crude News News surfaced Tuesday about stress on oil production from the recent temperature drop across the U.S. Because water is involved in oil production, it can freeze equipment, thereby halting the process. Does this mean oil will continue to increase in price from a temporary weather condition? Possibly, but by looking at the weekly chart of United States oil (USO) we can find an even better reason for higher oil prices to continue going forward. First off, oil has been beaten down since the beginning of 2020. When traveling was basically cut off from the pandemic, the oil market suffered major losses. Furthermore, supply chain issues make oil production challenging to start back up, especially if oil companies are tight on cash from major yearly losses. Knowing this, we can assume that companies will be careful about how much they add to supply as they now must sell oil for a fraction of the prices seen pre-pandemic. Additionally, the increase in U.S vaccinations fares well for travel, and in turn for oil. We are not the only ones that expect growth in oil prices. Berkshire Hathaway recently took a 4.1-billion-dollar stake in Chevron (CVX). With that said, if oil runs into some roadblocks along the way, watching the transportation sector (IYT) can act as a guide for further strength in the oil sector. Tuesday, IYT broke to new highs along with the S&P 500, Nasdaq 100, and Dow Jones. If the transportation sector stays strong this will further support the oil market recovery through this year. We see support now in USO at 38.50 with 40 the pivotal area. Resistance is above at 44.00. Learn more about my unique energy sector insights and my 3-click, 6-figure trading strategy here… [Buy Alert] 2 Primo Stocks Pull Back to Proven Buy Zone My buddy Ross has done it again. He's used his "secret" volume roadmap to identify a pair of white-hot pot stocks that have pulled back to primo entry points… And they're offering investors a rare second chance at potentially significant profits. He just posted a new video to his blog to give you all the details… In Case You Missed It… 1. 5 Ways to Improve Your Trading2. Ben Franklin: America's First Financial Guru 3. I Ask Myself These 3 Words All the Time… To big profits and beyond, Hawkeye Traders Call us: (888) 233-8598 |
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