Look out Oil Bulls - Oil headed back to high $30's next week as Saudi (and everyone else) pumps oil to the MAX.
and this had to make you very, very scared if you're long Uwti since we all know Russia and Iran are also pumping more oil like there is no tomorrow. Oil heading up for the "Perfect Storm Sell Off" as U.S. economy stalls as all of Opec pumps to the MAX.
and you know Russia will do the same as no one (I MEAN NO ONE) is Opec or Outside of Opec is willing to give up their oil market share to the neighbor or bitter enemy. Oh and did I forget Iran is also pumping oil like there is now tomorrow as U.S. economy finally stalls and heads towards Recession.
and just think how high Gold jumps when Yellen passes on June rate hike. Over $1450 an ounce come mid-June.
With Japan closed, and unable for now to do more damage (or damage control), China stepped in with some modest turmoil of its own by strengthening the Yuan fix by the most since 2005, pressuring the USD weaker for the 5th day in a row. Commodities have tended to push higher on the back of this with Crude above $46.50 but Gold has surged to fresh 15 month highs (over $1275 and near $18 respectively).
Pick your poison.
and talking heads say "a recession is coming" with the Fed out of gas and out of touch.
Since we know Saudi Arabia is doing the same thing, as well as Iran, Iraq, Kuwait, etc. Only direction for oil now is down, down, down as Opec fractures yet pumps oil like there is no tomorrow.
as the U.S.economy starts to weaken just before China Bubble Burst.
Oil markets remain oversupplied as between 1 and 2 million barrels of crude are being pumped out of the ground every day in excess of demand, leaving storage tanks around the world filled to the brim with unsold fuel. "The energy complex remains volatile ahead of the 1Q16 reporting period which will likely be worse than what we thought was already an ugly 4Q15," U.S. investment bank Jefferies said. For the near term oil direction is down possibly to the low $30's a barrel.
Yang (China Bubble), Tvix (U.S. bubble), SCO (oil bubble)
Now the only question is which Bubble burst first, second or third. Don't know but there all lined up at the gate ready to POP.
so place your best accordingly.
and you thought the IBM, Netflix, Intel, sell off news was big. HA
Dow drops 300 points tomorrow as everyone realizes "Its CORRECTION" time.
Watch all (long Spy) players head for the exit at the same time tomorrow and send share price down $206 - $205. Sure looks like it "sell in May and go away" NOW.
Google and Msft huge miss on earnings as both head for the showers with stock down big time in after hours.
and soon it will be "sell in May and go away".