Analyst Gary Savage Gives General Market Up-Date

I've only been listening to Savage for a little over a year, but he's risen up to the one of my most respected analysts. He does short videos only about 5 minutes. Goes over whatever he wants to focus on. Usually metals, stocks, commodities. He is very direct and upfront about risks and probabilities, which I like a lot.

In this video he talks about gold potentially holding it's recent break above the 200 day moving average. He then talks about a few other markets, but key point he makes is what it means for the overall stock market if the price of oil keeps climbing.

I've been making money in Oil buying the dips for the past couple years. UCO is a double leverage ETF that I like to use. With the recent move up, now around 110 a barrel. I'd be looking to lighten up positions or in the least start selling calls against them. Regardless I agree with Savage, we probably have not seen a top in oil yet, but I would start thinking of an exit strategy. Video Credit: Gary Savage