T3’s Take 3: Can The Rally In Crude Continue?

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1) Gold Shines

Following yesterday’s ‘mini-crash’ all eyes turned to Amazon (AMZN) which reported after the close and missed expectations. While the miss may not have been a surprise, how badly they missed was. AMZN reported an eps of .40 vs the $1.42 expected. This sent shares falling and AMZN closing down, 2.46%.

Naturally, this increased the concern following the ‘mini-crash’ and sent investors looking for protection/safety. 

As a result, Gold (GLD) pushed higher closing up, 0.75%. It also closed bullish for the third week in a row as it advances towards the weekly 200 ema and 2017 high of 123.31.

GLD is up 7.67% year-to-date.

The S&P and Nasdaq took the day off following yesterday’s excitement closing down, 0.13% and 0.08% respectively. 

2)  Can The Crude Rally Continue?

Yesterday afternoon, T3 Live Chief Strategic Officer Scott Redler appeared on CNBC’s Futures Now to follow on his last call on crude oil and where he sees it going from this spot.

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3) Will The Second Mouse Be Getting The Cheese?

Today, my colleague Jeff Cooper discussed the sharp sell-off on Thursday and why the action today may be the most important of 2017.

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