“Well. it just kinda happened!”
And really, without anybody even noticing, oil has started to trade like corn
spreads … sure, it’s Summer, but we’ve had OPEC [who cares?], a hurricane
[yawn], and much slower global demand for oil [tell me something new!] … at the
end of the day, it’s tough to see what drives this stuff forward in the coming
weeks, other than “chop city” & stop hunts from those with the bucks.
Today’s range respectable enough, around a buck thirty, but the trading action is
becoming more disjointed, and there lacks trade conviction from one side or the
other that makes oil a great market when it moves … when it chops? … err, not
so much.
Outta here early for a doctor’s appointment … until tomorrow mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
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