Cobra's Market View

Down 2 weeks in a row, the next week has 64% chances to close up.

From It is what it is department" Next week theme is Fearful marker Friday's low closing the gap and strong rebound from that was quite impressive. I am looking at Fear index and based on short term trend following, I am not ready to buy in just yet. so... bearish bias going into next week for me.
$VIX > 16 is not bulls friendly.short term down trend and weakness are clear. Rips will be sold. Peace!

Doesn't always work, but shows what the market is fighting against!

US hitting China again.

U.S. Ban of Cosco Tankers Rattles Oil Transport
in International Shipping News 30/09/2019


Shipping brokers around the world are being swamped with calls from oil traders looking for replacement ships after the U.S. blacklisted dozens of tankers operated by a major Chinese tanker operator.

The U.S. action over allegations that the vessels were tied to illicit shipments of Iranian crude hits about 50 tankers operated by a subsidiary of Cosco Shipping Energy Transportation, one of the world’s largest tanker owners that moves a big part of China’s oil needs.

Washington also warned ports and traders around the world to stop doing business with the Chinese ships.

....


A person with direct knowledge of the matter said Cosco is asking Beijing to make the blacklisting decision part of the U.S.-China trade talks when those negotiations resume in October. The person said senior Communist Party members consider sanctioning Cosco as a direct jab at the Beijing government itself.

“We are very surprised and plan to learn more about the situation,” Cosco said in its first response to the U.S. ban.

https://www.hellenicshippingnews.com/u- ... transport/