TIMBER - China's industrial output has slowed to its weakest growth since the financial crisis, prompting concerns over the global recovery. Production rose by 5.4% in January and February - the worst since 2008. Watch world markets tank tomorrow since Chinese government can't hide the Truth - China heading for Major Recession.
Can't go long with headlines like above, especially with Iran about to show its "Middle Finger" to Russia and Venezula. Iran, Kuwait, Iraq and other will keep pumping full out as Opec dies on the vine.
So could USO test $9 tomorrow or lower???
and according to the article - oil could fall very hard if Iran says "So Long to Production Freeze".
Thus the reason the market is major red and could drop 300 points tomorrow. Oil control everything now and short term - long term its heading DOWN
well now you know the reason why Oil will fall through the floor and retest new 52 week lows.
and no deal with Iran so its back to Pump oil 24/7 as all of OPEC fractures and oil drops back to the $20's Iran has said "The oil freeze deal is a Complete Joke" and now they told Russia they won't be attending a March 20th meeting to discuss oil production. If ever there was a signal to leave USO, UCO and UWTI its NOW.
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.
First post printed in Iran. Second Post printed in Russia. Pick your poison, but UWTI heading back under $2 as Ice Cream Freeze deal falls apart.
and no deal between Iran and Opec to cut production. Talk about a Train Wreck.
I think you are correct wise. I had a chance to cash out my short position at $494 but moved my stop up higher to hold CMG over night. If anything we will see a 5% plus drop tomorrow as every news channel in the U.S,. and abroad Flashes Red Warning lights about this company and its dropping stock.
and rumor has it Walmart just told its customers they will not allow them to enter Walmart stores - if they just came from Chipotle after eating foul food.
Deutsch Bank already pegged the stock at $400 back in February - way before todays "Awful" news hit. With threat of E. Coli and Norovirus now on the table again - stock will Free Fall going forward with no floor in sight this year. As is "seller" dry up as everyone dumps CMG for good.
Now doesn't that news really make you want to order a double burrito?