Insider trading has calmed down a bit this week after last week\u00e2\u20ac\u2122s huge surge of selling. Energy is at the top of list with $382.70 in selling for every $1.00 in buying. Some in the energy sector would be negatively impacted in a rising rate environment.<\/p>\n
Exxon Mobil insiders show a different pattern over the last twelve months, one of heavily buying over selling. That makes a lot of sense when you consider that both OPEC and non-OPEC countries began controlling output in January 2017 in effort to create a rally in the price.<\/p>\n
In addition, President Trump exited the Iran nuclear deal on May 8, 2018. Concerns over supply and possible middle eastern conflict drove spot oil to a $71.14 close after hitting a low of $42.50 last June.<\/p>\n
One might expect this would be a negative for the markets. But in this fairy-tale market stocks may be breaking out of their negative trend. Of course, rising oil prices are inflationary, so we also see the 10-year treasury testing the 3% level.<\/p>\n
What about spot gold and spot silver? Both appear to be range bound\u00e2\u20ac\u00a6for now.<\/p>\n