IT'S OIL INVENTORIES ROULETTE DAY!

“Place your oil bets!”

Thanks to a big, ginormous draw in distillates, crude rallies strongly today to

touch the $56 handle, and settles in the $55’s … that and some talk the Saudi’s

are seeking more production cuts, which of course they don’t disclose until they

know the oil inventories report has gotten the market to rally … then break the

news and it adds further fuel to the rally fire … and stocks rally as well, so

there’s that.

We’ll see if anything can be maintained above $56 … I got my doubts … until

tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

OIL STABILIZES FOR NOW

“Oh, I see you’re trading oil too!”

Another bullshit day in markets, where by the time the sun comes up in New York,

the day is already over … only, nobody told you did they?

Oil hovers in the low 50’s, and the only reason we’re not in the 40’s is cuz potential

shorts are scared to death of Saudi Arabia, and their call last week to do “whatever

it takes” in terms of production cuts, to get oil to stabilize and then rise … and that

pretty much says it all. Outside of “oil inventories roulette” every Tuesday night

and Wednesday morning, this market has nothing to offer anybody at the moment,

either long or short … all you’re getting here is trouble.

Until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas