By EconMatters

There is a nice setup in the oil market ahead of the OPEC Meeting this month that meets all the criteria for a nice trading setup. OPEC is going to cut production at this meeting on the 30th. There is massive short positioning that will have to unwind over the next 20 days in the oil markets.

The catalysts are the following:

Now that thanks to first the WSJ, and then Fox News, the public is aware that a probe into the Clinton Foundation is not only a hot topic for both the FBI and the DOJ (and has managed to split the law enforcement organizations along ideological party lines), but is also actively ongoing despite the DOJ's attempts to squash it.

No matter what anyone tells you, we are still in a gold bull market. Gold stocks will oscillate higher and pull-backs along the way are healthy. In fact, it appears the most recent correction is already over, even though another 2 months of negative returns would not have been out of the ordinary:

The idea for this chart was given to us by our good friend, Jordan Roy-Byrne, of The Daily Gold. Please visit and subscribe to his site for professional guidance in riding the uptrend in gold.

Given our warning last week (as the black market pound crashed), the devaluation of the Egyptian pound (to 14/$) was not entirely unexpected, but as ECStrat's Emad Mostaque notes, the market was probably in the 11/$ range and so they have surprised to the upside. This will put significant social pressure on society and we could potentially see unrest as Sisi’s support continues to diminish. For now, stocks and bonds are soaring on the currency's crash.

Markets were expecting a devaluation to the 11 range...