“The wisdom of Morticia Addams!”
Well, that didn’t take long, now did it? … if I didn’t know better and was somehow
skeptical, I’d think events over this last weekend were intentionally hyped up to
get the biggest bang for the buck at Sunday’s open for crude oil … amazing how
quickly the Saudi’s got everything back online with oil production, isn’t it? … I’m
pretty “Hoover Dam” sure Vlad & the boys were selling with both hands after the
open.
As I said over on the traderzoogold blog, too bad the brokerage community can’t
offer an oil CFD worth a shit, that U.S. citizens can trade … no question, oil is the
market to trade, but you have to have fair and honest pricing, and right now we
can’t get it … both Turnkey & Coinexx are a joke in regards their oil CFD’s, a
complete and utter ripoff, and they know it … they choose to do nothing about it,
and that’s what pisses me off about them.
I still think the oil trading community is mis-pricing geopolitical risk in current
pricing … the world uses about 110 million barrels of oil a day … the attacks last
weekend put about 5 million barrels out of production … we saw the biggest jump
in history [20%] when oil opened, on a 5% oil disruption … if it ever gets serious,
we sure as hell ain’t gonna stay in the 50’s!
Today sees oil inventories roulette and the FED … so far, less than a buck fifty
range, so it’s quiet … how long does this last? … update: down into the 57’s for oil
on bearish inventory supply builds, and the fact that bombs aren’t dropping on
Tehran, instead greater economic sanctions … amazingly, we aren’t that far from
where we were on Friday’s close? … is the oil market back to normal? … I dunno,
ask the spider.
Until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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