“Psst! … oil shorts, are you awake yet!?”
Well, this really did escalate quickly to the upside, didn’t it? … Not sure how
much of this Iran stuff is bullshit & bluster to get oil higher, and how much is
real … one thing for sure, though, it scared the shit out of positioned oil shorts,
who hit the exit gates in droves … all in all, a nice $3 rally, something that’s
been lacking recently.
A nice move from the oil algo as well on the M5 … slow & steady up and then
BOOM!, the spikes … retrace some, and then do it again … without further
tensions brewing, though, it’s tough to see further gains without missiles in the
air … remember, the world economy is going tapioca, and along with it oil
demand is weakening rather quickly.
Onto tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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