Futures are well off their highs, following a weaker than expected Empire Manufacturing Index reading. European markets, especially the FTSE, have been selling off for hours. Oil, which was initially lower by 3%, reversed and was up around 60 cents all night long. But now it’s flat and looking weak. I don’t care if RVBD caught a private equity bid, or a slew of analysts decided to upgrade stocks today. If oil cannot go higher after last week’s decline, we are going lower.
Frankly, this is becoming monotonous and boring, seeing the market run up in the morning, only to immediately sell off–leaving investors with garish losses.
There is nothing more to say, so I am not going to bother writing another word.
If you enjoy the content at iBankCoin, please follow us on Twitter
One word: capsizes
If we assume that oil prices bottom around $40-60 & stabilize in the 70s sometime next year. Are oil names oversold? Oil services?
15 mins later: back up to highs.
Time to eat sandwiches.
Very annoying that gold is selling off.
All big up opens need to be sold is my mentality lately.
any pop = sell if off
If oil cant go higher we’re going lower? Low oil prices are a good thing for most things, no?
feels like ender’s game right now
With the indexes all headed straight for the enemy’s gate.
Oil needs a bid
Do you think it needs to rally? Or is flatlining here in perpetuity good enough?
flatlining here causes untold pain in the bond market.
I was hoping this rollover wouldn’t start until tomorrow, all I had was GPRO puts this morning. 🙁
This market needs to stabilize at these levels for any confidence to return.
Up or Down will mean Down. Only Flat could possibly mean Up!
gpro is getting taken out to the woodshed….gpro/crude correlation is fascinating.
Well that didn’t take long.
oil will have no bid until putin surrender.
GPRO looking awesome again today.
for the love of god, GPRO looks like it wants to jump the gap and trade back to 42.
The Fly nailed it.
My SLCA short is working out pretty nice, sorry guys
Same with my gpro and yelp shorts…
What happened to Santa? fuck
http://i.imgur.com/bjHSkbO.png
Granted, it took 2 months.