Did you see how they ran as the market closed near the lows? I a was actually surprised this did not close green with oils up big today. There is a lot of fluff up at these levels and so many firms piling on now to upgrade their targets. I said weeks ago here where were these guys when shares were say even $10-$15 lower? If we see a nice correction soon I bet this consolidates back to at least $35 or even lower. These are now very crowded trades I have a feeling especially by hedge funds. If oil does pull back at some point these guys will exit quickly. How much more upside is there in oil from here? Canada, Libya and Africa have to come back on line soon. The US is either in recession or very close to it. Like I said earlier if oil is higher on Friday I may take a shot to short this or something similar for a trade.
Yes Macy's along with so many other brick and mortar stores are in trouble because of what you said but the Fed is doing their part by artificially inflating assets including energy prices. Go look at a chart of oil and gas the past 3 months and look at almost any retailers chart for that time period. As soon as oil took off retailers have tanked and it's not all about Amazon although a big chunk may be. The talking heads on the airwaves keep saying things will get better in the back half of 2016 I doubt it if the Fed keeps doing what they are doing. Once again seniors and savers used to spend their interest income on even necessities but that ship has sailed since 2008-2009. This economy is already in recession despite what GDP numbers may say and keep pumping up gas prices that will really help.
but the trade seems too easy now. It is getting very crowded I may take a shot to short near late Friday since oil seems to rally on Fridays. Brent is up over 8% in two days on inventory numbers that washed each other. It must be the Canadians off line along with Libya and Africa allowing oil to fly. How long can that last? I'm just watching for now but if oil goes a lot higher it may be worth a shot. The sad part of all this Fed induced pricing is that it is wrecking the retailers and the economy. It looks like the Dow may give back the 222 gain from yesterday. The Fed has created a mess and is now stuck in a corner.
Now near $41 and just $8 from the 52 week high with WTI at $46. The machines are having fun for sure.
That fund manager (Smith) must be thinking it's an even better play at these levels. Look at oil flying 2 days in a row yet record levels around the world. The Fed and Amazon is going to put so many retailers out of business. They allow the dollar to fall and oil and gas prices to go higher in a nearly recessionary US economy. The stick it to seniors and savers while helping WS then they scratch their heads and wonder why the consumer has disappeared. These Fed Heads are supposed to be very smart yet they cannot see what is right in front of their noses.
That's it in a nutshell. The futures are barely down and actually would be green without Disney today and the earnings that keep coming out especially in retail (which is the consumer) are horrible. Oil is at historic high levels and it keeps going higher. We are not that far away from the all time market highs....something is truly wrong with this picture. I have been raising cash this is going to end soon and it ain't going to be pretty. Since I believe that markets will go higher I guess.
This seems to be a rocket it got another bump from JPM this morning. My only question is that oil is about $30 lower from when CLR was at a 52 week high yet the stock is only $9 from it's 52 week high. The math does not add up but it appears I missed this rocket and I am PO'd since I would buy the dips in the teens and $20's over and over...Oh well. Maybe we see $35 again and I get a chance for a buy. It is a meteor for now.
If GRPN has bottomed I got close based on stabilization in markets. I should have bought on my hunch...Oh well!
Of course I was lied to just like the monthly CPI and PPI numbers but the numbers are the numbers and traders trade off them. Oil is being held up by the outages in Libya and Africa along with the question of when Canada comes back. The world is still awash in oil no matter how you look at it and if we had a 3.45 million build with outages what does that tell you about demand?
Cramer also did part of a show recently on AA and the chart he pumped said shares were going to $15. A few days after they topped at $11.50 and today hit a low of $9.32. Oil is stubbornly strong but at some point reality is going to hit both the oil market and the equity markets. Macro numbers around the globe stink and so does earnings season here. The machines are running the show in trading ranges at some point fundamentals will matter in all markets...but for now party on with the Fed and oil.
Threw in s bid at $2.52 in the AH for kicks I doubt it opens tonight. The pre-market will be interesting for both stocks. I bet SPLS falls less or even recovers.
You're right both shares are getting hit big before the halt. This administration is killing almost every deal.
Did you notice all 3 averages were up exactly the same today. This was machine driven to hit shorts despite just a basically a horrible earnings season which continued tonight. Energy stocks exploded late in the day possibly some give back tomorrow if we see another substantial build tomorrow morning. At some point this craziness will end very little makes sense for now across much of the markets.