Markets this week I feel may hit some headwinds. There is just so much negative news going on right now in all directions that seems to point to more downside to come. The large container ship that has been stuck in the Suez Canal is causing major problems for Global Trade. There are reports of 1 or more major hedge funds starting to liquidate positions. Even the Cannabis sector doesn’t seem safe, I was reading a news report on a possible stomach illness reported from those using it excessively.
Honestly, there isn’t much of a watchlist to target for this week. The only thing I can think of is that the issue with the cargo ship may cause oil prices to rise and a way to play that is thru:
Direxion Daily S&P Oil & Gas Exp & Prod Bl 2X Shs ($GUSH) - The is a leveraged ETF and very risky play. These are not long term holds but in and out. So know what you are doing before jumping into anything like this.
Why a ship stuck in Egypt threatens the economy in the United States - The Washington Post
As always, this is not financial advice. I use this as a way to journal my thoughts and share with anyone else interested enough to want to read this, as well as for educational purposes only.