Market Performance

Friday’s close was ugly across the board. No index was safe in the USA. The real place action happened was in OIL, GOLD and SILVER. Bitcoin did get a little action as well and every single thing closed down on the day.

This type of action is indiscriminate selling. Not a good luck charm for the near term but it does offer blazing bargains if you know where to look. Personally, I bought emerging markets, china and commodity shipping companies which were down on the day or week.

If inflation is back with a vengeance, it will take a long time for major players to get positioned and Friday was a perfect day to get ahead of a big players.

Volatility Corner:

VIX / VVIX improved! Blue up is good, blue down is bad. The blue line has a HIGH CORRELATION to overall markets.

My belief is that we still have lower volatility in the future. I can see this turbulence indicator is in perfect position to give us fresh all-time-highs this summer.

No matter if the market composition changes, I believe we continue to see a bull market at the index level through the end of 2024. The sectors and companies leading my change but the indexes continue higher.

MACRO INDICATOR:

• MACRO SEASON: BULLISH Since 12/2/22🟢

• MICRO WEATHER: BEARISH Since 3/5/24🟢

New Highs $5-$20:

1. FIP - FTAI Infrastructure Inc - Industrials - 🇺🇸

2. NR - Newpark Resources, Inc. - Energy - 🇺🇸

3. HMY - Harmony Gold Mining Co Ltd ADR - Basic Materials - 🇿🇦

4. CPG - Crescent Point Energy Corp - Energy - 🇨🇦

5. HLX - Helix Energy Solutions Group Inc - Energy - 🇺🇸

6. ETRN - Equitrans Midstream Corporation - Energy - 🇺🇸

FIP - FTAI Infrastructure Inc - Industrials - 🇺🇸

NR - Newpark Resources, Inc. - Energy - 🇺🇸

HMY - Harmony Gold Mining Co Ltd ADR - Basic Materials - 🇿🇦

CPG - Crescent Point Energy Corp - Energy - 🇨🇦

HLX - Helix Energy Solutions Group Inc - Energy - 🇺🇸

ETRN - Equitrans Midstream Corporation - Energy - 🇺🇸

New Highs $20+:

1. FRO - Frontline Ltd. - Energy - 🇧🇲 Bermuda

2. LPG - Dorian LPG Ltd. - Energy - 🇺🇸 USA

3. GGAL - Grupo Financiero Galicia S.A. - Financial - 🇦🇷 Argentina

4. GOOG - Alphabet Inc. - Communication Services - 🇺🇸 USA

5. XOM - Exxon Mobil Corporation - Energy - 🇺🇸 USA

6. SCCO - Southern Copper Corporation - Basic Materials - 🇺🇸 USA

7. CPNG - Coupang Inc. - Consumer Cyclical - 🇺🇸 USA

8. ERF - Enerplus Corporation - Energy - 🇨🇦 Canada

9. MNR - Monmouth Real Estate Investment Corporation - Real Estate - 🇺🇸 USA

10. MRO - Marathon Oil Corporation - Energy - 🇺🇸 USA

11. PPC - Pilgrim's Pride Corporation - Consumer Defensive - 🇺🇸 USA

12. WPM - Wheaton Precious Metals Corp. - Basic Materials - 🇨🇦 Canada

13. DVN - Devon Energy Corporation - Energy - 🇺🇸 USA

14. OXY - Occidental Petroleum Corporation - Energy - 🇺🇸 USA

FRO - Frontline Ltd. - Energy - 🇧🇲 Bermuda

LPG - Dorian LPG Ltd. - Energy - 🇺🇸 USA

GGAL - Grupo Financiero Galicia S.A. - Financial - 🇦🇷 Argentina

GOOG - Alphabet Inc. - Communication Services - 🇺🇸 USA

XOM - Exxon Mobil Corporation - Energy - 🇺🇸 USA

SCCO - Southern Copper Corporation - Basic Materials - 🇺🇸 USA

CPNG - Coupang Inc. - Consumer Cyclical - 🇺🇸 USA

ERF - Enerplus Corporation - Energy - 🇨🇦 Canada

MNR - Monmouth Real Estate Investment Corporation - Real Estate - 🇺🇸 USA

MRO - Marathon Oil Corporation - Energy - 🇺🇸 USA

PPC - Pilgrim's Pride Corporation - Consumer Defensive - 🇺🇸 USA

WPM - Wheaton Precious Metals Corp. - Basic Materials - 🇨🇦 Canada

DVN - Devon Energy Corporation - Energy - 🇺🇸 USA

OXY - Occidental Petroleum Corporation - Energy - 🇺🇸 USA

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