20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Ecuador is voting Sunday amid a climate of crime and political violence that has raised concerns about the future of democracy in this South American country. Seven candidates are running for president.
There were eight. Last week one of the main anti-corruption candidates, Fernando Villavicencio, who vowed to crack down on the cartels and political corruption was assassinated.
Another presidential candidate, Otto Sonnenholzner, reported that a shooting occurred several feet from where he and his family were dining out on Saturday.
“This is one more example of what Ecuadorians face on a daily basis,” Sonnenholzner said of the latest shooting.
Local press reports that most presidential candidates wear bulletproof vests when they’re on the campaign trail.
Ecuador’s Stunning Descent Into Violence
Ecuador, with a population of just under 19 million, straddles the equator and sits between the two largest cocaine producers in the world: Colombia and Peru.
Known for being relatively safe and stable for years, Ecuador now has some of the highest murder rates in the world due to organized crime and drug gangs who are using it as a transportation hub for cocaine to Europe and the U.S.
“The violent turnaround in Ecuador is stunning. It's terrifying and it's clearly a disturbing example of the challenges to democracy in the region,” said an NPR reporter covering the elections.
Cartels Seep Into All Sectors Of Society, Oil Prices Drop
The cartels have made their way into every segment of society, co-opting the security forces, local politicians and a large segment of society.
A major oil producer in South America, Ecuador's crude exports to the U.S., its main recipient are lagging. In 2021, the U.S. imported 70 million barrels of Ecuadorian crude, accounting for 50% of Ecuador's total oil exports. By the first half of 2022, that number dropped by half to 35 million barrels. The decline in Ecuadoran crude imports to the U.S. is due to a number of factors including the rise of renewable energy, the economic slowdown caused by COVID-19, an increase in U.S. shale production and political instability in Ecuador.
A National Park Where Oil Is Drilled
Ecuador will also vote on a referendum to decide whether or not to protect the Yasuní National Park from oil drilling. The park is an area of one million hectares (nearly 108 million square meters) where the Ecuadorian state oil company began drilling in 2016 and the ITT (NYSE:ITT) oil project is underway.
The national park is a UNESCO World Heritage Site and one of the most biodiverse places on Earth.
"There are more tree species in a single hectare of Yasuní than across Canada and the United States combined," said Nemonte Nenquimo, co-founder of Amazon Frontlines and indigenous Waorani leader and recipient of the Goldman environmental prize.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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