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That Didn’t Take Long

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A couple of days ago, I noted how the price of oil had formed a flag (often termed a Bull Flag), consolidating the big move up in price since September and that 79% of the time price breaks out of the channel forming the flag in an upward direction.

This is one of those 21% of he times where it broke in a downward direction. We have had some of our stop losses activate because of this move, which is fine as it allows us to get a bit less cyclical in the portfolios we manage.

More on all this later, but I wanted to give you a quick heads-up on this emerging issue.

Mark