As the equities continues to horn or kill the matador (Bears) wildly upward one MUST be properly insurance, These are nose bleed levels (risk); as such LONG the Crude futures hedges the equity portfolio; from all perspectives, bare in mind grains (MILK) lucratively contributes to the inflation portfolio, milk is and has been always been the best inflation hedge.
No major bias change from the last update
CLN14 (Crude-July futures)
105.23-105.30 is a swing (long from 99.50) profit taking level
Next reload level will be updated on Monday/Tuesday
Expecting a minor drip and dip down to 102.77 (bounce/Buy level) and possibly 102.60 although buying support begins at 103.30 to 103.17 (two fold increase at 17) none the less the major move is still up to 109/112 although 105.23/30 is the nearest profit target
As duly noted since 1/14 we're bullish the crude on all time frames and are expecting a major rally to take out the July 08 highs and as such the rally is in the early developing stages; No MAJOR change regarding the next all time high price which is still 247 to 250; This is the get rich play and in addition it hedges your portfolio against risk and inflation; bear in mind INFLACION is in the streets (Meat, Milk, Bead) and gas.(click to enlarge)
CRUDE-ENERGY PORTFOLIO STRATAGEY HEDGE:
Disclosure: I am long OIL.