Rob Shares What’s Next With GILD, Bonds And More

Welcome back gang!  This video is being shot during the regular trading hours.  The market is still moving around.

I am getting a lot of emails and posts in the Ask Rob section asking about GILD.  I just recently featured GILD as a short opportunity.  Whether it is President Trump fulfilling his promises, the reality is we run the risk of more of these things taking place.  Now people are saying that they didn’t take a trade then… So what now.  From my perspective that is called chasing.  If you didn’t see the value in what I was sharing before, now might not be the best time to take a fresh entry.  I would usually like to see a retracement into fallen resistance, then look for a fresh short opportunity.  It is just a habit because after everyone finally gets on board, the markets can have some decent retracements cutting traders off at the knees.  GILD is the lowest it has been since 2014.  We have been featuring this here.  It has come off around 10 percent today alone.  A lot of institutional firms get excited if they have 8-15 percent gains for an entire year.  This one stock alone did that for some of you out there in cyber space.  Right now I am waiting for a retracement before taking any short opportunities.  We will revisit this as we go along as well.

We actually were trading the Bonds in the Live Trading Room this morning.  I think Bonds are offering some great opportunities. We are now at some key resistances.  I have been telling you about these bottom end support, the midterm support, and the top end resistances.  We are sitting there plugging away at that resistance.  The market just pulled back a little bit ago on the ten year note auction.  It was just testing those levels throughout the morning.  I am going to see if we can make this support here.  That could bode well for some more longs.  In the meantime if it is between these bands, I will look for trades back and forth in these bands.

I did the investigation on Crude Oil about a week ago.  Last night the API reports showed terrible numbers.  The market does come down afterword.  However we see the picture for the general public today.  You can see the forecast was 2.7 million barrels.  We ended up 13.8 barrels.  If I were to come out with those kind of misses in these markets, the market would be 300,400,500 ticks lower.  Right now we are still holding up here above the 50 dollar band.  I am primarily looking for shorts below 53.50 and longs above 53.50.   That is pretty much how I am playing it right now.  I want to remind all of you guys that something is terribly wrong with Crude Oil.  I understand all the Iran stuff going on.  I want to help you all understand that we have some big moves coming because of the astronomical numbers we are seeing.  This would normally cause extraordinary disruption.  If the Iran stuff comes to pass, which I understand is virtually impossible to have happen, then people can start focusing on the fundamentals.  Unless those fundamentals are being forged, it is not good for the Crude Oil proper.  It is great for us at the pump if things start going how they are supposed to.  It is also great for us in trades because we can short this to the downside.  If you are long on Crude Oil, bad things can happen fast if the fundamentals start to settle back in.  We are going to be watching the 50 and 53.50 dollar areas.  Those are the areas I will be more aggressively short or long.  I see that as another big opportunity to things.

You guys all have a wonderful night!  I will see you all in the Live Trading Room tomorrow morning, or in tomorrow night’s videos.

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