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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (53857)1/25/2019 5:55:45 PM
From: Goose94Read Replies (1) of 203382
 
Crude Oil: Josef Schachter now in the bull camp for energy, believing that the bottom for crude and the energy stocks was on Dec.24. The recent bounce in the general U.S. and Canadian major market averages appears to be a classic bear market rally, which will end very shortly. I expect a test of the lows for the key averages over the next two months and maybe some new lows for some like the Dow Jones Industrials Index. It would not surprise me if the FAANGs got more defanged and lead the markets lower. Fundamental reasons for more downside would be problems with Q4/18 earnings or company outlooks, the trade dispute not making progress on intellectual property, the Mueller investigation outcome being problematic for Trump, the ongoing closure of the U.S. government getting testier or Democrat policies getting more worrisome for business.

Downside for the Dow Jones Industrials could be to the 20,000 area, the S&P/TSX Energy Index could be back to the 130 area and WTI could retreat to between US$42 to US$45 levels. This would create another table-pounding buying opportunity.

We expect to see WTI prices reaching over US$70 per barrel in Q4/19 and for the S&P/TSX Energy Index to reach the 200 level. AECO should be able to hit the $3 per thousand cubic feet level in late 2019. This year will be a very rewarding one for energy investors after the recent pain.

BNN.ca Market Call Thirst-day Jan 24th @ 1200ET
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