Stocks held in there..Oil has a good foothold in the $70+ and has been getting comfortable, sure Oil will rebound but I really believe that Oil will test down in the lower $70- as we head into Dec which is riddled with reasons for Oil to remain in the $70- with G7 cap $65-$70, FED Rate Hike, Additional production from Venezuela where they have so much Oil they gave gasoline away for free so they could make a sizeable dent in supplying plus Baker Hughes Rig Counts are up so production usually follows. Plus China and the US are turning into a shadow from the peak of their bullish days driving the economies hard and it's common knowledge that demand will continue to soften this predicted by all the large Institutions. Oil was flat from yesterday and we'll see what Friday brings with everything happening Oil is trading at lows but in the recent history of Oil, $78 is still high heading into a recession, and looking at the chart the downside when this recession worsens Oil could hit $65 bottom by early 2023 and having Oil in the $70+ will affect revenues in the 4th Q and eyeballing the Oil chart since Oct 1st till now looks like we averaged $83 Oil and Nov is taking a hit so this needs to be watched and trading shares higher could be like a dam and you won't want to be holding when a correction happens and because I know that we will get lower in the $70 the SP will correct, Paying a premium for a stock where the downside is guaranteed to happen before any turnaround doesn't work for me to hold especially if the commodity that your trading with isn't bullish like Oil today up $0.09 right now. Every watch an accident unfold and I knew that it was going to happen and that's why I have zero confidence in Oil rallying back to $90+ no wait, $88 anytime soon as we witness anything bullish having minimal impact on the price of Oil and this is what concerns me about the direction continuing lower, we could bounce up but I think that Oil has a taste for $70+ and will return lower. Today was low volume and tomorrow will be the same. I hope that you guys made money today,
Chevron Could Get Approval To Ramp Up Oil Production In Venezuela | OilPrice.com US Crude Oil Rigs 
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