I watch OXY which as we all know is owned by Mr. Warren Buffett . It is off the highs by 20 percent and is this a sign that OIL stocks are not so safe if we do have a very slow world economy in 2023 

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It is very cheap I am a member but not sure what level you want. Mine is very basic service. 

Having fun with RIG as a wild short that continues today.  It opened at 5.50 where I was lucky to cover my shorts from premarket 6.30.  Then put short on at 6.25 with all drillers especially OIH weak too.  Sorry unable to update the community. but most know I have been cautious with the group like NINE BRY  SLB OIH.  Covered most of RIG 6.12  but keep small, short. 

Yes, he works with Lee . He does really believe in cycles too besides Demark. 

Yesterday AR and RRC were mentioned as shorts and both for sure were.

Besides SLB now HAL B KR   rolling over. Is it a sign China will be not a big consumer or that USA slows down soon ?

Shorted BRY a small driller at 9.41 covered half at 9.24 . REST of BRY bought back 9.23

Is NINE  telling us that the earnings of many small drillers will be weaker than anticipated? 

Key Takeaways Mark Newton 

• SPX and NASDAQ now are arguably both showing long-term trend breakouts
• SOX breaking out of its multi-month base, which is helping this outperform within Tech
• Technology making a strong technical rally which puts this sector on much better footing

Acting well yes but rest of group is under distribution .

Boy the drillers continue weak like OIH   NINE  RIG  

RIG  my favorite short. Shorted at 6.30 premarket and opened at 5.50 then shut down with no news I can find. 

BIG red  candle on NINE today is of concern. Thoughts after Monster move up. 

It did get extended too. Thanks on your opinion .

I took a good look at OIH: SPY ratio on daily chart and it had several divergences on recent run up especially versus NOV 7 highs. This maybe a reason why SLB  and NINE and others are struggling for the first time.

Key Takeaways  Mark Newton update 

• SPX rally hasn’t improved technical structure, but requires a rally back over 4035
• Sector rotation shows a big period of outperformance from last year’s laggards
• Natural Gas looks to be close to bottoming out; Gains likely into April 2023

Drillers are under pressure this a.m. ever since OIH huge red candle and SLB earnings that were good but poor stock action. Any ideas why? I did short my favorite RIG 6.24  and covered at 6.11 in a short time. NINE looks tired and rightfully so after monster run

BOIL out 10.29   UNG out at    10.74

Took nice gains on UNG and BOIL in pre-market