and we will never ever attend some (bogus) meeting to discuss oil production freeze. Well that my friends end the short lived oil Bull run and its all down, down, down from here as everyone goes home to "Pump" oil as fast as they can.
Biggest jump in Oil over the last month (or two) is based on what exactly? Its based on Nothing. Russia throws out a stupid idea of everyone pumping oil at all time highs - but with one catch. Everyone freeze oil production at all time highs - with no enforcement required. Its an "HONOR SYSTEM" (ha). Presto oil jumps from $27 to $42 on total baloney. Then Iran, Libya, Kuwait and Iraq say wait a second - "We don't want to freeze much less do anything except pump oil 24/7 until our hands bleed. Gee - oil still goes up on what exactly? Then Saudi Arabia sets the tone (finally) and says then will not Freeze anything unless all of Opec (and non-Opec members) agree to freeze their oil production. Holy Moly - That finally gets the markets attention and now everyone runs for the exit knowing Oil will retest the $20 range come the end of April.
Anyone stupid enough to trust the Russians to enforce this crazy deal can't see the forest for the trees. Anyone stupid enough to think Iran and Saudi will hold hands and sing Kumbaya can't see past their nose. And anyone stupid enough to think oil will hold over $40 a barrel with Opec in disarray come Monday should not be trading energy stocks/etf's. Uwti most likely will be back in "single" digits come end of next week as oil investors wake up from their (nightmare long position) and wonder what hit them.
Circus ends tomorrow with Iran a no show, S.A. possibly raising oil production and Russia back to drinking stale vodka and dreaming of $50 oil. What goes up on smoke and mirrors comes crashing down in 24 hours or less.
so now the Fed never raises in 2016 knowing China economy is in full meltdown stage. And that's with China reporting fake numbers - which are still awful. Oil headed back to $1500 an ounce or higher on world wide recession. OUCH
and to think such a move by Moody's is base on "phone" numbers by the Chinese government. If Moody's knew the real GDP in China, they would rank the country some where between Greece and Venezula. Markets sells off tomorrow knowing China is all Smoke and Mirrors as Oil heads SOUTH.
and unfortunately for (longs) here - $1.40 a share could be offered for breakfast tomorrow. Always remember when Uwti moves down, it moves down fast. Especially with today's inventory oil report that said, "March is over saturation point" as Iran and Iraq pump day and night.
No - No China news is actually worse then Greece because China tries to hide bad numbers under the table. Unfortunately the game is up now and as China economy fall into 2016, 2017 oil goes South and Gold JUMPS. Fed said they would hold off rate hike if China's economy worsened. Well now we know it how bad it is - and its "SCARY" bad.
since news hits with Fed Speak. And if the Fed hints of a rate hike June or early - Market will go Red as fast as you can hit the "SELL BUTTON".
Saudi Arabia, Russia said today they were prepared to push oil production to historic highs, just days after a global deal to freeze output levels collapsed and Saudi Arabia threatened to flood markets with more crude.
Venezuela predicted prices could crash in the next few weeks if producers failed to resume dialogue and urged that non-OPEC participants be observers at a June OPEC meeting, as the specter of oversupply loomed once more.
I agree. Market over bought, Fed weak as a kitten and Panama Papers will expose (to the masses) mass corruption on a Huge Scale. Now the only question is does China or Russia stock market fall faster then U.S.?
When news breaks on the "India" deal the stock will ramp over $70 a share. Think about it - the Largest retail internet player in China and India will be Alibaba and that's a very good place to be short term and long term. Talk about massive market share business platform dominance.
Sure looks like Twins are coming again so get ready for a 3 month leave of absence.
Have to go to "safe haven" plays like GLD with China economy in full collapse and the Fed about to push off higher rate hikes until end of year. When you see news like this below - you know Gold will ramp HIGHER.
China’s trade contracted significantly more than economists had expected in January, as the country’s economy continued to suffer from weak global demand and a slowdown at home. Exports fell 11.2 per cent year-on-year in dollar terms, compared with forecasts for a decrease of 3.6 per cent, while imports slid 18.8 per cent, against expectations of a 1.8 per cent fall, according to government data released on Monday.
and many here wouldn't be surprised to see oil hit $35 or lower tomorrow as China's economy weakens just as Iran start pumping oil like CRAZY. UWTI falls off a cliff tomorrow so be very careful Oil Longs.
and world market go green on this (BOGUS) news. Give me a break. So Saudi Arabia, Russia, Venezula say they will freeze their Oil Production limits AT ALL TIME HIGHS and markets think that is good for OIL?
Then Iran says "You Do Dat but we don't play that (FREEZE GAME) Suckers", and world markets think that is good. What the "F" am I missing here. Everyone is still pumping like crazy with worldwide storage facilities inches from over flowing and now everyone thinks oil is going HIGHER. Yea right and Trump will shave off his crossover and Hillary will take a lie detector test over illegal emails. Oil should be crashing - not going higher simply because everyone is still pumping oil flat out and you know the Russians will cheat on any agreement this week, next week, next month, next year.
This is all FOOLS GOLD but the markets Suck it UP.