OIL stocks are acting much better this a.m. after a reversal in OIH and many others like NINE too. Earnings too helped last night on a big OIL company. It was CVX and 75 billion repurchase program helps too.

AAII Sentiment bulls dropped and are about 7 percent below their historical average for the year 

Key Takeaways  Mark Newton

• SPX remains resilient, and early MSFT weakness failed to keep US Equities down.
• MSFT’s stabilization is a positive, and rallies up to initial resistance at $260 look likely.
• NYSE Advance/Decline line has officially broken out of its downtrend from Nov. 2021.

NINE is bouncing again well. Finished last RIG covered at 6.31

Got lucky closed out BOIL 9.00  UNG 10.09. Shorted RIG at 6.45 and covered most 6.35 and 6.34.

Thanks for look at NINE

Take another very small trade BOIL 8.85  UNG  10

NINE is finally showing some strength glad I covered my short at 12.60 area.

Shorted NINE 12.89  covered half 12.60 . Shorted RIG 6.44 

Yes they all have bounced nicely off of the lows.

OIL  stocks have perked up for now. 

Boy OIH   NINE OXY RIG  SLB all acting poorly, and they were former safety trades and leaders. Who will lead now that TECH is weakening.?

Sold rest of BOIL 9.12 UNG 10.16 Do not like the action. 

That is why I took half off on sharp bounce up.

Mark Newton on CNBC last evening and discussed Presidential cycles and said this quarter will be the strongest of the four-year cycle. Unfortunately, he was confident before MSFT lower forecast for next quarter. 

Took half off UNG 10.17 BOIL 9.12 I take singles and doubles. 

Bought BOIL 8.90  and UNG at 10.00

Welcome 

Yup and it snapped back up to 6.27 area after. 

Yes my brother use to be in Oil drilling when we lived in Bakersfield Ca. And as a result we went through many booms and busts. I have been around the block