(WCTW) The Roadmap Is Getting Clearer
It's funny how fast things change in just a week in the market. In our last week Monday's WCTW titled, "Beginning Of The End." We said:
As the global crowded trades unwind, all correlations go to 1. But during times of turmoil, specialists can find pockets of opportunity that the generalists are unaware of. In the energy space, we are seeing those pockets of value now. There's a big disconnect between fundamentals and price, and we think over the coming weeks, this disconnect will correct itself.
For the first time in a very long time, both our oil and natural gas market signals have turned bullish.
Since then, both oil and natural gas have appreciated meaningfully, and we issued a trade alert to readers last week that we have exited our natural gas long position. We explained why in this article.
As for our oil position, we remain long.
The roadmap ahead, in my opinion, is getting clearer. We are seeing many of the signals we pointed out heading in our direction, and if I am right, then oil prices will spike into the end of September and October.