“Again Skippy, I see you get caught short oil and here you are!”
All you need is a little terrorist financing … you know, an RPG launcher and some
ammo, or maybe a missile or two … step 1) get long oil futures, 2) send the missile
to hit an oil tanker, and 3) liquidate the long positions … rinse & repeat as often as
necessary to fund more terrorism, or other noteworthy goals in the swamp of
MENA [Middle East North Africa] … EXIT QUESTION: “Despite their protestations
to the contrary, do the thugs & dictators with oil in the ground really mind higher
oil prices as a result”? [Hint: NO!!]
Well, that was quick … $51 handle to $54 handle within a day … nice work if you
can get it … and quite frankly, only shorts mind … everybody else, and it’s
“thanks for the boost”, I don’t care how you came about it.
Like stocks, oil also has its eyes firmly planted on D.C., where any news of
positive trade news will support oil as well … unless somebody upsets the apple
cart, oil appears to be supported down here in the low 50’s … however, any break
of first $51, then $50, and all hell will break loose on the downside … not seeing it
at the moment, but check back in 5 minutes and everything could change. Now
that we got a “China trade deal Lite”, oil is in a bigger quandary than before
… who ya gonna believe, the dictators and thugs cutting production, or the
ChiComs living up and honoring any trade deal for longer than 5 minutes?
… Some choice, huh?
Blog update on Sunday ... until then mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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