2/28/22 The Fall of Rouble, Kiev Defends

News:

Ukrainian reports 352 civilians have been killed since the fighting began. It also claims to have killed at least 3,500 Russian military members.

The Capital Kyiv/Kiev has yet to fall to Russia as its defenses remain intact for now.

A Russian military vehicle burns in Kharkiv, Ukraine, February 27, 2022. (Sergey Bobok/AFP)

Over the weekend Putin was isolated on the international stage.

Russia has lost access to commercial flights, international banking, and its currency is plummeting, down as much as 50% according to some reports. We will have a better idea after the markets close.

Technicals:

After posting two solid green days in a row futures are dropping this morning.

Markets remain near oversold, I still believe we are in the midst of excellent buying opportunities. But only if your hold time is greater than six months.

Few short-term plays look attractive right now.

Timing:

It’s the last day of the month. March brings us the FOMC and a new round of economic data.

I expect the market to remain volatile until after the FOMC.

The first of the month is often a strong green day. I could buy a small position if the market closes deep in the red expecting a gap up tomorrow.

Watchlist:

*Low Float

*SGLY has resistance at $8
BPT has support at $11
SND has support ta $3, resistance at $3.50
LXU is on watch
AMLX has support at $30
CENX has support at $22
WTTR has support at $8
LNTH is on watch
AGO has support at $60
VIST has support at $7.35
SLCA is on watch
ZETA has resistance at $12
BTEGF has support at $4.15

Leave a Comment

Your email address will not be published.