As much as I’d like to pop champagne corks into your faces and celebrate the new bull market, one designed to offer daily 15% gains in oil stocks, we are more likely to fall into a sewer pipe tomorrow. All of this pomp and circumstance is part of the circus act. Janet Yellen is tone deaf, as well as 99% of the people on the tv.
Oil reversed and gave up big gains, yet all of these ham and eggers keep talking about a strong economic environment.
Remember when this pole strokers said China would be insulated from the credit crisis? Yeah, those same people think we will avoid the Grimm Reaper, as he makes his rounds around the world–plunging everything and everyone into despair.
There cannot be a stronger than expected US economy when you have 6 million jobs at risk, in an industry that is circling the toilet bowl. The Fed made the same mistake in 2006-2007, tightening into a damaged economy.
For now, I remain long and will try to regain some of my lost swagger with this lift. I deployed some capital today and have prayed and brayed to baby Jesus for mountainous gains.
Oh, and yes, The PPT won again. It flagged oversold yesterday. Pretty amazing stuff.
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FIG
Baby Jesus gonna come through for us. +15% on all oil stocks again tomorrow yippee
15% a day
That OS signal you spoke of yesterday was correct.
It always is. 78% accurate since 2008
78% of the time it works 100% of the time
WTI back up .50 again after market, so yes 15% up on select oil stocks tomorrow. And by select I mean the ones I own. I want to end the year in the black, sweet baby Jesus. RUSL ripping up
… and it’s gone.
https://www.youtube.com/watch?v=-DT7bX-B1Mg
Don’t worry, when I wake up WTI will have a 57 handle. And I will rejoice.
Maybe, and I hope you’re right because it would help stabilize all asset classes. Right now all energy’s showing red.
Well I got my wish, but we’re going the wrong way now.
Sorry about that. Oil’s (and all energy) got a dead cat feel to it.
The baby Jesus likes Cuban cigars, you’re in like Flynn.
After the news conference, Janet Yellen was spotted at Nello’s Cafe, eating a tuna sandwich and drinking egg nog. The chairwoman sat alone in a small booth. Beside her feet was a paper shopping bag with knitting rods and yarn sticking out of the top.
She was looking for a can to kick
Lol at pole strokers. That’s exactly what they are. Grandma hit a homerun today though. Hope it lasts through the holiday.
Janet Yellen smells…of…elderberries. Kinda looks like a hamster too no?
Speaking of the Grim Reaper, here’s an odd story from India about that.
Indian court allows dead guru to ‘meditate’
http://www.aljazeera.com/news/asia/2014/12/indian-court-allows-dead-guru-meditate-20141215141545172717.html
Huge short covering rally today, might last more than a day, if we had not rallied 300 points on nothing. Dumped my PXD & EOG today, picked up more HAL. HAL seems to be the best play here, cheap, and didn’t rally like a lunatic today.
Jesus!
I want to pop champagne corks and
dance in the jungle all night long whilst eating the finest bananas and dressed in
Italian suits.
Well you cannot.
just woke up
How ’bout this. NY State to Ban Fracking
http://www.nytimes.com/2014/12/18/nyregion/cuomo-to-ban-fracking-in-new-york-state-citing-health-risks.html
I made this happen by closing my RIG position yesterday.
Putin admits defeat in his speech tomorrow, and backs off.
+42 handles on /ES today. That’s $2100 PER CONTRACT.
Does anyone have the original $1 trillion in global capex piece by GS? I’m a bit confused as to 1) % of capex lost in the US, 2) what duration the capex is for (is it 1 trillion instantly, or over N years)? Would love to get it if you have it. It’s not really that bad if it is long-term capex projects.
Cheaper oil is quoted as being $60BB/year in the US alone, probably closer to $176BB / year total… globally. (not including adjusting supply/demand forces in oil).
Many of those folks will keep working. Oil production will still keep on pumping at 90% or so. The weak and over levered will tumble, the strong will devour the weak and build for the future. There will be more benefit to the overall economy from reduced energy prices. No need to panic, this is a time for cooler heads to prevail.
So — it has come to my attention that liquidity in CL futures is insanely thin. I attempted to trade 2 contracts and I got flashboyed to the tune of 3 cents. One has to wonder the shenanigans involved when a low-volume asset drives higher volumne assets (like rates, equities & forex).
I’m a whiter shade of impaled tonight. Vlad! Are you listening to me? This is all your fault you know. You lost CUBA!
Russia ripped today big. Is it possible some deal is coming? TBT should fly if Putin backs down at all.
Call it bottomfishing. Dead cat bounce. Sucker rally.
Do you think oil, which is in a supply/demand imbalance, will recover soon?
Russians are taking their rubles and buying whatever goods they can. And now they can’t even buy an iPhone/ipad/icrap because Apple isn’t selling anything in rubles right now. That sounds like the opposite of stable to me.
An investment right now has the potential to have a great return but it’s a very low percentage play. If you put any money into anything Russia, consider it sent to money heaven. If it comes back, take the proceeds and go to Vegas.
Russia – Extremely low chance of default given their foreign reserves vs M2 & corporate external debt + cash balance + oil assets
Venezuela – completely screwed, but them + argentina have been screwed since 2008.
Not everyone agrees with you on Russia.
http://blogs.barrons.com/emergingmarketsdaily/2014/12/17/could-russias-private-debt-at-25-of-gdp-cause-financial-collapse/?mod=BOL_hp_blog_em
One thing is for sure. The scary talking heads spewing total horseshit has hit a new high. Stocks are some kind of super asset now that should never ever fall again. Shit the parties just beginning! Are there any bears left?