Markets Fearless, Interest Rates Rise, Gold Remains Weak. They continue to tell me how bullish oil is and I keep looking at the backwardation pattern, knowing the end result. By Todd Horwitz, Bubba Trading.

 

Bearish to neutral.
No reason to be extra aggressive here…when volatility gets thumped..business is going to slow down. One of the big stories, Occidental Petroleum was up about 6% today on earnings. They continue to tell me how bullish oil is and I keep looking at the backwardation pattern, knowing the end result.

Kind of a weird situation with Overstock.com & Bitcoin.
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About the author

Todd Horwitz - Author of “Average Joe Options“. Todd began his trading career in 1980 at the CBOE. He was one of the original traders in the OEX & helped start the SPX. He is a member the CME where he trades S&P futures as well as foreign currencies & is a regular contributor to CNBC, Bloomberg, BNN, Fox & many other major news networks.