I’ve still been keeping an eye on the markets while being on hiatus. The markets seem to be entering an unstable phase right now and my proprietary volatility indicator is creeping higher. Whether or not we’ll see another BUY signal soon in the coming days is a bit too early to tell, but the overall volatility pattern is pointing to a lower trend. For now we’ll take a wait and see attitude (I’ll post a current snapshot of the indicator in the members section later this morning).
The interesting thing to note is yesterday’s oil price. It’s slowly marching toward $100 a barrel with most of the gains coming from the Turkish/American row over the Armenian genocide. Without getting political here, and I do try to keep my political opinions on the down low here, I really do believe that Turkey was committing genocide against the Armenians.
Perhaps a shutdown of American forces using Turkish Air Bases to deliver supplies to the Troops in Iraq will stop and force us to come home sooner, but I digress now.
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