Oil & gas stocks (as a group) just hit a 4-month low. Citi says energy stocks have further to run on the upside. The Wall Street bank explains why and offers three picks. #BP #REP #COP https://www.marketwatch.com/story/the-best-performing-sector-in-2022-is-not-finished-crushing-it-says-citi-offering-three-stocks-to-buy-11669117570

I was expecting the rise in China solar capacity. I was not expecting Vietnam to make the list.

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In 2000, two brothers drilling in the Naica lead and silver mine discovered a cave of giant crystals nearly 1000 feet below the Chihuahua desert in Mexico. Mexico is a resource rich country, and one of the places on Earth where you will make some amazing mineral finds.

It's time to ask for a raise: Inflation, War for Talent Spark Highest Salary Hikes Since 2007.
Companies plan to boost salaries 4.6% next year, a Willis Towers Watson survey found, as inflation and a still-tight labor market have forced firms to revise their compensation https://www.bloomberg.com/news/articles/2022-11-17/inflation-talent-wars-spark-highest-salary-hikes-since-2007-survey

I shared this chart with my Wealth Megatrends subscribers on Friday. Central Banks scooped up #gold with both hands in the third quarter. Hm ....

Consumer defensive is higher on the day and the week, while energy stocks are getting the heave-ho. This is indicative of investors/traders turning more pessimistic.

Good thing rent is going down, because Steve Rattner says that new home buyers are being squeezed out of the market due ot rising interest rates/sticky prices

The rent is too damned high ... but it's getting cheaper. The median October asking rent in the 50 largest metros declined to $1,734, down by $25 from last month and $47 from July’s peak Source: https://www.realtor.com/research/october-2022-rent/

Truckers are getting hosed at the gas pump. Check out the record spread between average diesel and gasoline prices in U.S.

So, #financial CoSo, are ya'll ready for some morning chart action?
Let's start with a chart from the excellent Liz Ann Sonders, who points out that the Year/year change in LEI as of October (-2.7%) is now worse than average at start of historical recessions (-2.2%). That' is worrisome, but there are more charts to come.

Banning assault weapons wouldn’t stop mass shootings. But it would sure slow them down

Used car prices (on average) hit a 52-week low. The collapse of Carvana may have something to do with this

One more chart before I go, from the brilliant Matt Badiali. The spread of #gasoline prices vs #oil prices. We are on the "expensive" side of the line today. Discuss.

Daily chart of gold -- that sure looks like a bull flag. And as the saying goes, "flags fly at half mast." A successful bullish resolution gives us a short-term target of $1965.30 on the yellow metal.

Here's a chart of the lithium stock $SGML that we took 294% gains on in Supercycle Investor recently. I was aiming for 300%+ but the market is a cruel bitch. Anyway, we were right to sell, though Friday was a positive day. Where's the bottom? I'll make a guess later.

The big gold miners ETF $GDX is looking bullish on both daily and weekly charts. I'm putting the weekly chart here. We saw the downtrend break, then a price breakout, then a retest. Short-term target: $35.

If you squint at this chart, you can see the price of #lithium has pulled back from its recent peak. Last week, both S&P Global and Goldman Sachs came out with bearish lithium price forecasts. Goldman says immediately, S&P says sometime next year. Goldman made the same call in June, and was embarrassingly wrong.

Meanwhile, #crude #oil has endured a bearish couple of weeks. Here is a weekly chart of the U.S. crude oil benchmark, West Texas Intermediate. Why so bearish? There is a big pipeline offline in Texas, and we've seen a parade of doomy forecasts. It should go lower in the short term. I've drawn a line at $70 because the White House says it will buy oil to refill the SPR between $67 and $72 a barrel. That should be support.

The S&P 500 is looking quite bullish, too, though it is lagging the Dow Jones Industrias, and is below its 200-day moving average. FYI, the 200-day is generally seen as the dividing line between longer-term bullish and bearish trends.