Pitcher

Nice premarket pop with a little follow thru. We are sitting right on the 20EMA. Let’s see if we break it or get scared and back down. Good action so far.

That is Hot news Weeji

Yes sir, I totally agree!!

Sunday April 5, 2020 I’ve been reading and looking at charts a good part of the day and I’m going to give you my thoughts on the Stock Market. We had a little selloff on Wednesday but we held the support line Thurs and Friday. Last week was a tough week for traders who thought the bottom was in and that we would go higher. Monday was a good rally but Tuesday and Wednesday were very humbling. Thursday we got the spike in oil on President Trump’s tweet but there is a lot of work to do to get that oil situation back on track. Last Friday President Trump warned the next few weeks would be tough weeks in the battle with the CV Crisis. Last week was a very tough week indeed but the Markets handled the Infection Rates and Deaths without panic. Even with the very horrible weekly unemployment news the Market did not sell off in the manner I thought. The trading was calm, rational, and orderly ( at least from my perspective). I saw a lot of algo machine trades which makes for tough Day Trading Conditions for me. According to what I have read, the CDC is claiming the CV curve should hit its peak in the next 11 days. Going forward this this week I would like to see a few things 1. I am hoping for some good news on New Therapies, Drugs, or Vaccines. We need a glimmer of hope that are Healthcare Professionals can get a leg up on this horrible disease. 2. The VIX has come way off it’s highs of 2 weeks ago but Volatility remains high as we are not even halfway through this Pandemic according to Dr. Fauci. 3. I would love to see us bounce up in another rally this week starting tomorrow since we held support around 2450 on the S&P. I would love to see us break through the 20 ema and start a nice retrace back to respectability from the selloff last month. 4. It’s truly amazing ( or rigged) how the Markets always gets back to a somewhat neutral state on Friday’s. Looking at that S&P chart I could make a case for up or down action starting tomorrow. If you cornered me I would say we may get another rally. You should know my position by now. I’m a Day Trader until the Price gets over the EMA 20. At that time I will look to possibly make a few Swing Trades. I will not go Long Investment buys until the CV is under control. This market is still very news driven. Below are 2 charts of the S&P 500. The first one is a Daily chart. I circled the pertinent information. 1. RSI at the top went flat last week showing the sideways movement the last 3 days. This is a good thing. This Market needs time to catch its breath and consolidate. 2. The 50EMA is clearly below the 200EMA and doesn’t look to be swinging up yet. We are in a Bear Market. It will take time for the 50EMA to get back above the 200 EMA. Months imo!! 3. I circled the last 3 days action. It’s a good sign that we held Wednesday’s low. 4. MACD flattened the last few days much like the RSI. The Market took a little break. I’m showing the weekly chart only to emphasize the fact if the news gets ugly in the coming week and people panic sell we could break all current support levels and head to the June 2016 lows. Bet your last dollar there are people with an agenda that want to see that. They will be peddling fear, and doom and gloom to attain their goal of getting people to sell the 401k’s. I still haven’t seen total capitulation and think we will eventually hit that June 2016 low around 1700-1800. I hope not but there are so many variables with this CV. THE ECONOMY IS MOSYLT CLOSED FOR BUSINESS. If the CV duration lasts past June the the year will be in a serious situation. Let’s take it one day at a time and pray for the people who are ill and the families who have lost loved ones. I am also praying for our Brave healthcare workers and people working on vaccines and Therapies/Drugs.

They need to be arrested and made to pay for their freedom to get back the 50 B they stole from the Iraqi people—-then drone them!!

https://oilprice.com/Latest-Energy-News/World-News/IEA-OPEC-Cant-Save-The-Oil-Market.html IEA: OPEC Can’t Save The Oil Market By Tsvetana Paraskova - Apr 03, 2020, 7:30 PM CDT Even if the OPEC+ group and other major oil producers in the world were to agree to deep production cuts, they would be unable to prevent what is sure to be an enormous global inventory build this quarter due to unprecedented demand destruction, Fatih Birol, Executive Director of the International Energy Agency (IEA), told Reuters on Friday. The measures many countries have taken to try to flatten the curve of the coronavirus pandemic are destroying unprecedented volumes of oil demand as more than 3 billion people—from India to Europe to the United States—remain in lockdown. As a result of restricted commuter travel, grounded flights, and economic slowdown, demand for oil in April is expected to drop by 20 million bpd year on year, and probably more. Even if OPEC+ plus other producers were to discuss, agree to, and implement a collective cut of 10 million bpd, global oil inventories would still rise by 15 million bpd in the second quarter, the IEA’s chief told Reuters. Earlier this week, the IEA said that the world has seen some oil shocks before, but “none has hit the industry with quite the ferocity we are witnessing today.” The reason the shock is unique this time around, the IAE says, is because one of the usual stabilization factors, consumers, is unable to do its part. As billions of people around the world are still in lockdown, consumers are unable to react to falling prices like they usually do—by consuming more. So for as long as the pandemic lasts, boosts in demand that were seen during other oil shocks are “highly unlikely.” Meanwhile, producers from the OPEC+ group and from another group are expected to discuss potential ways to react to the massive demand loss and the low oil prices that hit their lowest level in 18 years earlier this week. While U.S. President Donald Trump touted a cut of 10 million bpd, and possibly 15 million bpd, many oil analysts, cited by Reuters, remain highly skeptical that an agreement of these proportions could be reached and implemented.

https://oilprice.com/Energy/Energy-General/OPECs-Plan-To-Take-Over-The-Global-Oil-Industry.html OPEC’s Plan To Take Over The Global Oil Industry By Cyril Widdershoven - Apr 05, 2020, 6:00 PM CDT The first three months of 2020 have shocked the global energy market to its foundations. The toxic mix of coronavirus, a global economic recession, and an unexpected OPEC+ price spat have hit ever aspect of the energy industry. The ongoing global oil and gas glut, which will become even more prominent when oil storage space hits zero, is a major threat to IOCs, independents, and minnows. The unprecedented demand destruction forecasts of 20 million barrels per day will transform the oil industry as we know it. The true impact of this toxic mix of economic, fundamental and geopolitical uncertainty remains unclear, but we can expect a wave of bankruptcies in the US shale industry, the North Sea offshore sector and across the Canadian oil and gas sector. If the current crisis is prolonged for several more months, non-OPEC countries around the globe will see oil production collapse. The oil majorssuch as Shell, Exxon and ENI, are not yet in danger, as their available cash and market share makes them too large to fail. But other operators, such as Occidental, Whiting and others, are currently fighting for their lives. Debt levels, operational costs of fields, and a broader market crash are making these companies question their survival. Stocks across the energy sector are in the red, with upstream oil and gas companies in particular pain. Even promises about keeping dividends at current levels or of cutting upstream spending won’t bring investors back. Privately owned energy companies are being hit, from all sides, making them ideal prey for private equities and oil majors. Related: What Really Caused Oil To Rally By 25%? While media analysis currently is looking at the risk to national oil companies (NOCs), such as BAPCO, KOC, or Sonatrach, due to the price crash caused by the OPEC+ breakdown and the resultant impact on their national economies. The real story here is about the opportunities available to those with the ability to spend. In a very volatile market, with some analysts talking about the possibility of a negative oil and gas price environment, there will be and there always are big winners. The main players to watch, in addition to the private equity funds that are already preparing to buy up distressed assets, are the SWF backed and government-owned major National Oil Companies (NOCs). After years of deliberating and assessing the right strategies, some are going to be prepared to put their money where their mouth is. Expect NOCs to fulfill their dreams of going international and becoming major powerhouses on the world stage. That is the dream of the Aramcos and ADNOCs of the world. With Gazprom, Rosneft and a long-list of Chinese oil companies reeling from the oil price war, OPEC oil companies are preparing to enter the market. Several assessments have shown that, at the right time, NOCs will have to become International National Oils or INOCs. To enter the international market is the only way for these NOCs to continue their expansion and ensure future market share. In recent years, especially when oil prices were hovering around $65 per barrel or higher, an aggressive acquisition strategy would have been too costly to pursue. Related: U.S. Shale Ready To Fire Back In The Oil Price War Looking at the current situation, low share prices, negative returns, and pressure on dividends all serves as flashing green lights for NOCs looking to take advantage. At a reasonably low investment level, not constrained by downward threats in future and already struggling to deal with activist shareholders, independents such as Occidental or smaller are up for grabs. Aramco, ADNOC, QP and maybe even KOC, could be stepping up their investment strategies to take a huge chunk out the non-OPEC producers’ cake. Whatever happens in the coming months, the Post-coronavirus oil and gas industry is going to be a very different beast. Western politicians and stakeholders do not have the capabilities to stop a takeover of IOCs by non-OECD based entities. Financial stability, employment and elections will be a more pressing issue for most to consider than the sale of assets or total companies to NOCs. Arab NOCs could even have their respective SWFs and local investment banks expand their existing portfolios. In reality, majority stakes owned by Saudi SWF Public Investment Fund equals ownership of Aramco (as the latter is owned by PIF). For QP and several others this is also the case. Whatever happens in the next 6-18 months in the energy industry, the landscape will have changed drastically. Consolidation and survival of the fittest is the main rule right now, even if market participants don’t want to talk about it. A major shake-out is going to happen, assets and shares will end up with the cash-rich. And there are few entities out there more cash-rich than the NOCs. Many analysts have suggested that this crisis will support and accelerate the energy transition, but maybe it will instead be a transition of ownership from private to national, leaving the future of hydrocarbons in the hands of a few very wealthy entities.

https://www.thenational.ae/world/iraq-gridlock-al-zurfi-prioritises-the-economy-to-secure-parliamentary-support-1.1001899 Iraq gridlock: Al Zurfi prioritises the economy to secure parliamentary support An empty market at noon, at a street leading to the Imam Ali shrine in Najaf, March 31, 2020. Reuters Iraq’s prime minister designate Adnan Al Zurfi has positioned himself as the man to bring about economic salvation for the country and address the financial woes that have been exacerbated by the coronavirus outbreak. Mr Al Zurfi submitted his manifesto to the legislature on the weekend, warning that the government may no longer be able to pay its seven million employees. “Iraq is going through a catastrophy,” Mr Al Zurfi warned. His manifesto focuses on improving the economy and the health system to counter the impact of the coronavirus. “The economy will be the next government’s main cause of action. Anyone with a desire to invest will be given preferential treatment,” he told reporters in Baghdad. Iraqis walk in an empty street in Baghdad on March 22, 2020 amid a curfew to help fight the spread of Covid-19. AP Photo The former Najaf governor has struggled to unite Iraq’s divided parliament behind him since President Barham Saleh asked him to form a cabinet on March 16. He has support from Sunni and Kurdish blocs but needs consensus from a dominant Shiite bloc largely allied to Iran. Mr Al Zurfi said he will submit the names of his proposed cabinet two days before the deadline for a parliamentary vote of confidence on April 15. Iraq is one of the oil-exporting economies that’s expected to be hard hit by the fall in oil prices this year. Louay Al Yasiri, the current Najaf governor, said last week that he expects the city’s economy to collapse in the next fortnight as a result of declining religious tourism and the plunge in oil prices. Iraq’s $135 billion budget for this year was calculated based on a projected oil price of $56 per barrel. In the past month, oil prices have dropped by more than half, hitting an 18-year low last week before recouping some of the losses. Haitham Al Juburi, a member of parliament’s finance committee, said the 2020 budget deficit, forecast at $40 billion, could more than double to $85 billion. Administrative officials across Iraq have been criticising the central government’s response to the pandemic, which they partly blamed on political gridlock. Demonstrations demanding a new political system forced the resignation of caretaker prime minister Adel Abdul Mahdi in November. His allies in parliament then blocked the appointment of Mohammed Allawi, another prime minister designate, in February. In an attempt to placate Iran’s supporters in Iraq, Mr Al Zurfi last week called for the lifting of US sanctions on the Tehran government. He said on the weekend that his “Iraq first” foreign policy would be balanced and geared toward attracting capital flows, adding that dealing with neighbouring countries would be “economy centric”. “The prestige of the state will be restored when we have a strong economy. Other than that, this prestige is non-existent,” he said. A member of a centrist parliamentary bloc, Mr Al Zurfi is an ally of former Iraqi prime minister Haidar Al Abadi. He fled Iraq for Saudi Arabia after Saddam Hussein crushed a Shiite uprising in 1991. Mr Al Zurfi then moved to the US and was one of the exiles Washington brought back to Iraq to run the country after the 2003 US-led invasion that toppled Saddam Hussein. Becoming governor of Najaf, he gained a reputation as a tough administrator and security operative. Recent weeks have brought signs of a shift in US military strategy in Iraq after tensions mounted following the assassination of Iranian General Qassem Suleimani in January by a US drone attack. Last week, US troops left a base in eastern Iraq - the fourth complex they have vacated this year in the country. The American military said the “pre-planned” transfer of Al Taqaddum base to the Iraqi army was unrelated to increased attacks on US and allied troops in Iraq. Washington blames the attacks on pro-Iranian militias.

Iraq PM-Designate: I Did Not Meet Ghaani, Iranians Not Involved in Govt. Formation Baghdad – Hamza Mustafa Iraqi Prime Minister-designate Adnan al-Zurfi revealed Saturday that he did not meet with Iranian Revolutionary Guards Quds Force commander Esmail Ghaani during his trip to Baghdad this week. Speaking at a press conference in Baghdad attended by Asharq Al-Awsat, Zurfi revealed that he will send the government lineup to parliament and will await the legislature to set a date to vote on it. He rejected claims that his appointment was constitutionally flawed, vowing that he will fulfill his mission “to the end”. “Those opposed to the government can express their position at parliament alone,” he added. “It is in our best interest to respect the sound rotation of power.” Zurfi’s appointment has been flatly rejected by the Fateh alliance, headed by Hadi al-Ameri, who is aligned with Iran. Zurfi questioned the rejection, adding however, that anyone has the right to do so, but within democratic boundaries. “I am banking on lawmakers from blocs that expressed their readiness to support me,” he added on whether his designation will be approved. On whether those rejecting him are being influenced by foreign powers, namely Iran and significantly after Ghaani’s visit, Zurfi stressed that he did not meet with the Quds Force leader. “I did not receive word from him that he really opposes my designation,” he said. “I received information from the Iranians that they do not want to interfere in the government formation process.” On how he plans to balance the tensions played out between the United States and Iran in Iraq, he said: “My policy is based on keeping Iraq away from parties seeking to settle scores on its territory.” He stressed that he wants to establish “balanced” ties with all sides and that he wants to achieve Iraq’s interests. On his government program, Zurfi told reporters that it prioritizes resolving the economic crisis, meeting the demands of protesters and holding early elections, and establishing balanced relations with all foreign powers.

These 3 guys, are the 3 Stooges of Iran. They need to be arrested for holding up Iraqi progress. Why are these 3 allowed to continue sabotaging Iraq.

http://www.basnews.com/index.php/en/news/iraq/594014 Three Major Iraqi Shia Factions Agree on Alternative to Troubled PM-Designate Basnews English ERBIL — The Iraqi Shia political factions of Fatah Alliance, Hikmah Movement, and State of Law Coalition have agreed to boycott an upcoming parliamentary vote on the Prime Minister-designate Adnan al-Zurfi. A source familiar with the meeting agenda and its outcome, said Ammar al-Hakim, and Nouri al-Maliki were hosted by Hadi al-Ameri on Sunday to discuss the issue while disagreements on Zurfi’s nomination deepen among majority Shias. Hamid Maala, a leading member of Hikmah Movement, confirmed the report and said the three Shia leaders have reached consensus over boycotting the upcoming vote at the parliament and, instead, nominate Mustafa Kadhemi, the head of Iraq’s intelligence service. The shift in Shia factions approach to the issue came days after the commander of Iran’s Quds Force, Esmail Qaani, the successor of slain Qasem Soleimani, visited Baghdad and held meetings with main Shia factions to discuss the political deadlock pertaining to the formation of a new government in Iraq. Kadhemi has served as the head of Iraq’s intelligence service since 2016. He is known as a moderate Shia figure who often mediates between conflicting Shia factions.

https://www.thebaghdadpost.com/en/Story/47788/MP-says-Iraqi-PM-designate-Zurfi-will-be-replaced-within-hours MP says Iraqi PM-designate Zurfi will be replaced within hours A Fatah Alliance Parliament Member on Sunday said a "semi-final" agreement was reached between the Shiite political blocs to replace Prime Minister-designateAdnan al-Zurfi within hours. Theh MP said Zurfi will be replaced by an "unquestionable" alternative. Iraqi Prime Minister-designate Adnan Zurfi presented his agenda Saturday to Parliament as government security forces clashed with protesters defying a government-imposed curfew, Voice of America reported. More than a dozen Iraqi police reportedly were wounded when protesters in Nasiriya threw gasoline bombs at police, who were firing tear gas at them. A long cortege of vehicles Saturday drove through the streets of the southern city, honking car horns to defy the curfew. Iraqi state TV had earlier showed security forces stopping vehicles and taking the temperatures of drivers to detect coronavirus cases.

https://www.thebaghdadpost.com/en/Story/47787/Protesters-clash-with-security-forces-as-Zurfi-hands-agenda-to-parl-t Protesters clash with security forces as Zurfi hands agenda to parl't Iraqi Prime Minister-designate Adnan Zurfi presented his agenda Saturday to Parliament as governmentsecurity forces clashed with protesters defying a government-imposed curfew, Voice of America reported. More than a dozen Iraqi police reportedly were wounded when protesters in Nasiriya threw gasoline bombs at police, who were firing tear gas at them. A long cortege of vehicles Saturday drove through the streets of the southern city, honking car horns to defy the curfew. Iraqi state TV had earlier showed security forces stopping vehicles and taking the temperatures of drivers to detect coronavirus cases.

They also have ice cream headaches from learning this Chinease art form

The Iraq Government should have been formed and a RV’ed by now but the Iraqi’s have been busy trying to learn the art of Chinese Magic. It looks so easy but it’s not. It appears many of Iraq’s leaders have been spending time in the hospital for second degree burns.