Ed Moya - Senior Market Analyst at OANDA – Tue 10 Mar, 2020

Oil price wars balanced with government and Fed responses

Ed Moya, Senior Market Analysts at OANDA kicks off today by discussing the anticipated response from the Fed and US government to help support the markets and economy. What’s on the table and will it work? Tough to call either way right now.

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  1. On March 10, 2020 at 10:19 am,
    Matthew says:

    DJUSOG:HUI is testing big speed line and fork supports:

    Flip that chart over and you’ll see that the gold miners are at a 7 year high versus oil stocks.

    • On March 10, 2020 at 10:41 am,
      CaliJoe says:

      Matthew, I see a gap was filled this morning. Oil market has completely gone bonkers. Maybe Saudi’s real motive was to bankrupt the shale. The truth is, E&P companies have fewer options available to them now vs. today when it comes to capital markets. Who survives? Those with strong balance sheets and a decent hedge book. But I don’t think Russia or Saudi can afford to keep prices this low. This is not 1990’s.

      • On March 10, 2020 at 11:01 am,
        Matthew says:

        I agree, CaliJoe. The big money always comes out on top. It reminds me of the 10,000 or so banks that went away under FDR.
        No, it’s not the 1990s. In real terms, oil is as cheap as it was in the early 1930s.

        • On March 10, 2020 at 11:33 am,
          SilverDollar says:

          I think you guys (Matthew and CJ) are possibly forgetting that Putin and the prince are two, very ego maniacal individuals. Both, stubborn with a history of getting their way eventually in order to prove their muscles to their respective underlings. The Saudi’s are in deep debt while the Russians have little and the Russians have beau coup gold! I’m betting this tussle will go on for a while and eventually, the Saudis give in……….JMO

          • On March 10, 2020 at 11:42 am,
            RICHARD/DOC says:

            Silver, I think you outlined it very nicely.

          • On March 10, 2020 at 1:22 pm,
            Matthew says:

            SilverDollar, that could very well be but the stocks are likely to turn up ahead of oil or at least deliver a bounce worth trading (kind of like the miners in the last week of February).
            HAL, for example, reached a 17 year low yesterday which was a 10 year low versus oil and bounced precisely from a big fork support (after closing precisely at another fork support last week) so those who were on the ball yesterday did not have to risk much to play it.

          • On March 10, 2020 at 1:46 pm,
            CaliJoe says:

            Matthew, I think HAL will fill that Monday gap. I’ve loaded up on these stocks. A lot of money will be made with Oil stocks. I urge people to get greedy when everyone is so pessimistic and given up on E&P companies. Don’t hold it for long term because, let’s face it they are in downtrend but there’s going to be very convincing bounce.

      • On March 10, 2020 at 12:18 pm,
        b says:

        Saudi-Initiated All-Out Oil War Could Lead To Collapse Of Kingdom Itself


    • On March 10, 2020 at 10:45 am,
      CaliJoe says:

      Trump should just impose 10-20% import tariffs on foreign oil. It will end the misery for US shale.

    • On March 10, 2020 at 10:53 am,
      bonzo barzini says:

      Matthew, I can’t wait till gold is at 5000 and I can swap each my NEM shares for 10 shares of Chevron.

      • On March 10, 2020 at 11:03 am,
        Matthew says:

        That sounds like a plan, Bonzo. In the meantime, a bounce is probably coming soon for CVX…

      • On March 10, 2020 at 11:06 am,
        bonzo barzini says:

        Larry, I hope you and your wife saw the article today at http://www.articles.mercola.com
        entitled “6 of 10 vaccines studied increase mortality.” This study was done in Odense at the U. of Southern Denmark. They found that children under the age of 5 who had a measles vaccine had twice the mortality rate of the unvaccinated. Those foolish enough to take the H1N1 flu vaccine also have higher mortality rate. I hope Al and Dr. Frieda will read this article. I am sure the CDC, NIH, and WHO will cover it up.

        • On March 10, 2020 at 11:45 am,
          larry says:

          Thanks b.b…..I will get to Mercola tonight…Sure wish he was given a 2 hour special interview here…That would drive a direction correction IMHO….It would become a peoples site rather than a self serving medical elitist site…Fancy talk describing the fraud shills of the Rockefeller allopathic medical monopoly cartel…It is what it is though…..

        • On March 10, 2020 at 11:46 am,
          RICHARD/DOC says:

          It would be interesting whether the increase mortality rate could be linked directly to the flu vaccination or other causes. This study does not surprise me. I personally have not taken the H1N1 flu vaccine; however, I have taken the pneumonia vaccine. My wife will not take any vaccines any longer since she has had some serious reactions in the past.

          • On March 10, 2020 at 12:48 pm,
            bonzo barzini says:

            I had a friend who took the pneumonia vaccine when he was 75. He was bedridden for 3 weeks. Another friend had a tetanus vaccine and went into shock and nearly died. I know a lady who was in perfect health at 56. Then she was talked into a flu shot and her health declined rapidly and she now has MS and spends 6K a month on medicine.
            I would never take another vaccine unless I was bitten by a rabid animal.

  2. On March 10, 2020 at 11:51 am,
    CaliJoe says:

    I’m playing these 3 for bounce in oil.
    MRO, RIG, OXY. This hit list is constantly changing btw.

  3. On March 10, 2020 at 11:58 am,
    CaliJoe says:

    SM is very oversold. Sentimentrader was showing 0 percent bulls when market opened .

  4. On March 10, 2020 at 12:09 pm,
    spacenormal says:

    Nano particles can enter the blood brain barrier. Ten minutes to a scary understanding of why vacines are so bad.

  5. On March 10, 2020 at 1:03 pm,
    Glenfidish says:

    Hey guys for what it’s worth, bought more impact right at the close.

  6. On March 10, 2020 at 2:18 pm,
    CaliJoe says:

    “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”- Sir John Templeton

    Where we are with E&P companies?

  7. On March 10, 2020 at 8:36 pm,
    Glenfidish says:

    Great charts Matt! Thank you