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At SlingShot Trader we help subscribers make large, quick profits trading the news. Not every news story is worthy of a trade. In fact, very few are. But with our proprietary screening mechanism — the SlingShot Profit Screen — we cut through the noise to find the high-velocity trades that will put money in your pocket. LEARN MORE ›

Latest Webinar: October 7, 2015

Topics discussed: The unique set of circumstances that has introduced so much volatility this week. Having Chinese banks and markets closed for a week, a spike (possible short squeeze) in... Watch It Now ›

John Jagerson
Editor, SlingShot Trader

Wade Hansen
Editor, SlingShot Trader

Weekly Update: Oct 7, 2015

Performance in the major stock indices has been strong since Sept. 30. The strongest-performing group has been oil stocks (and related industrial firms), which can have an outsized impact on the major averages. At the same time, Chinese banks and markets have been closed for the National Day holidays, which end tomorrow, Oct. 8. Is there a connection between the two factors? Despite good news in the sector, have the fundamentals of commodity demand really changed? Yes, and no… mostly no.

The recent news feed is actually a good illustration of our concerns. Last week’s rig counts were down, which is a small change in favor of higher prices and probably triggered the rally in the first place. Yesterday’s international inventory numbers were also down a little, which also caused a bullish reaction in the market. However, all bets seemed to flip on a dime with this morning’s rising oil-inventory data from the EIA. The major indices (and oil stocks) turned lower at the exact moment that last inventory report hit the news.

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