So you know have the "green" light to short gold and go long oil on Opec news.
The Federal Reserve is unlikely to reverse its plan to raise interest rates further this year, but tighter credit markets, volatile financial markets, and uncertainty over Chinese economic growth have raised risks to the U.S. economy, Fed Chair Janet Yellen told U.S. lawmakers on Wednesday.
and everyone is happy. Oil jumps as the big boys get down to business and talk production cuts to save their faltering economies. Uwti over $1.70 today but you have to buy NOW - to enjoy the ride up.
and deep down we all know Yellen will hold off any rate hike this summer - so for a few days the BULL IS BACK - BIG TIME.
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.
and we all know today's big move up was in reality 'just a pipe dream", since oil is projected to drop through the winter and into Spring.
I think you have a point - thus the big move in gold (higher). But you would still think a massive inventory build that might put us weeks away from topping storage facilities would be more negative for oil. Thus massive oil surplus (that could be maxed out in weeks) trumps weaker dollar. Oh well - short term oil falls going into Refinery maintenance shutdowns.
and its the Russian way. Promise everything and then do the opposite. Market is a sucker for buying it but then again there is a sucker born everyday. Bottom line Oil in $20's come Friday on weak payroll report and Saudi telling Russia "Stick you cut back plan where the sun don't shine".
Takes market an hour or two to digest such a massive oil build. Uwti will close Red and then come Friday non-farm payroll number shows U.S. is heading into recession as oil head for mid-twenties.
Sure looks like Twins are coming again so get ready for a 3 month leave of absence.
and now 15% of Apple Work Force can all become hair stylists and do Marrissa hair - "real black.
What a "Black Widow she is.
Don't be shy since we know quite a few posters here went long oil/uwti on Friday believing that Russia and Saudi would have a love fest today. Unfortunately history kicked in pushing oil back to all time new lows, knowing Russia and Saudi dislike each other. Then throw in Iran saying "we pump to the max and stop for no one" and you have the perfect storm for oil to drop to low $20's a barrel. Uwti under $2 today and possibly under $1.50 come Friday.
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
for an easy double since oil is heading lower with Iran soon pumping 24/7 as Iraq and Libya crank open the oil spigots. Warmer weather now coming to the fruited plain so gas drops through the floor. Thinking Oil back under $30 next week and natural gas back to new 52 lows.
So now there is widespread skepticism that a deal will happen, especially since Iran is keen to boost its market share now that sanctions on it have been lifted. How can oil prices go up when (1) Saudi Arabia didn't say they would cut production, (2) Iran did say they set new records this year for selling oil, (3) Russia is the last place you put your faith in since Putin lies to everyone but himself. Sorry Oil longs but Oil heading lower into refinery maintenance season and increased tension between Iran and Saudi Arabia to keep their oil market share as high as possible.
Everyone knows Opec and Non-Opec oil pumping nations will never work out a deal - since its "everyone out for themselves". Oil falls this afternoon since who wants to catch a falling knife over the weekend just to see oil retreat to high $20's next week. NOT ME