Watchlist: 10/5 Oil and Bitcoin Fly … Facebook Dips

Market Notes:

According to a whistleblower Facebook (FB) is bad. All its sites we’re offline for several hours after the not-so-shocking revelations come out. She claimed it prioritized profits above the safety and wellbeing of its users.

I don’t expect the ~5% it suffered to last. The price was down-trending before the news broke. Often news creates a bottom. No trade for me just watching from the sidelines.

Oil prices are rising after OPEC confirmed a gradual increase in supply. The spill in California, while tragic, is too small to have any effect on global oil prices. Plenty of energy stocks in play but I’m only looking at the low floats.

Watching Bitcoin as it nears the $50,000 level. The surge comes as inflation fears reignite.

Futures are up this morning. But it looks like random noise to me. There are signals pointing higher but the lower lows have me concerned.

I’m continuing to wait this out. Remember October is a bear killer.


*Low Float

*MXC has support at $14
*SDPI has resistance at $2
*ENSV has resistance at $1.75
*SALM has resistance at $4.75
*APRN has resistance at $8
XENE is on watch

OTC (on watch, no levels):

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