“There are too many vans there already!”
Front month WTI crude [May 2020] is under $19 … go out to July and it’s $35 … a
lot of people have piled into the ETF USO, thinking it’s a “slam dunk” being long
an oil ETF cuz prices for future delivery are much higher … what they don’t get, is
that spot oil doesn’t have too rise, that futures could fall and fall hard … these
summer delivery months in crude will be interesting going forward.
Over in cryptoland it’s NADA … for the umpteenth day in a row a quiet session,
where today so far, BTC has barely seen a $200 range … shhhhhhhh, you’ll wake
somebody up!
Blog update on Sunday … until then mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
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