“I think she trades oil … scary thought isn’t it!?”
Caught between the utter insanity of gold and the stock indices, oil knee jerks
around on a yo-yo string … happy trails as this shit moves, cuz it’s wicked. Lost
of course in the moves, are any and all reasons oil should be going up/down $2
per barrel on a daily basis, which is approximately 4% of the value of the entire
barrel of oil … if gold did that for its 20 Day Range MA, we’d be having $60+ daily
ranges … the DOW30 would be having approximately 1000 index point ranges.
Right now, besides the complete bullshit flowing from both the U.S. & China over
the trade deal, the fact is China is NOT going to be making any deal before the
2020 U.S. election … why should they? … and even if they did, outside of an
initial burst higher, it would soon become apparent when the details were
released, that it would have no teeth for keeping China honest … so, the world
demand side of oil looks bleak, and I’m being kind … from the supply side, only
the potential threat from Iran keeps oil from getting 🙶monkey hammered🙷 … and
with sheikhs and dictators pumping like crazy, where does that leave oil? … I’ll
tell you … it leaves it in the hands of the stock market and the gyrations of the
DOW30, that’s where … and this does not forebode good news for oil … in other
words, stuck in the mid 50’s with nowhere to go.
Until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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