It was a slow spring Friday and markets were a snoozefest. But, don’t look now, as the meetings in Doha loom, men who now live in oil barrels because they’ve lost all of their money in the great oil bust of 2015, are facing a rather perilous circumstance.
None of the OPEC members really want to cut production. They’re like the aliens from Mars Attacks. As soon as the other guy turns around, they’ll drill like fucking mad–flooding the market with the sweetest crude available.
As you can tell, I am somewhat of a cynic regarding these meetings.
As for me, I take it some of you took the opportunity to see inside Exodus for the afternoon, perhaps view our live demo. I am, inexorably, short XLE–with all of my lifeforce–currently and presently 125% invested, of which 100% is in XLE short.
Have a great weekend. Don’t crash your ridiculous cars into steel structures.
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Or ghost ride the Impala after hanging around Fontainebleau for too long
1,000,0000,00000
“as the meetings in Doha loom, men who now live in oil barrels because they’ve lost all of their money in the great oil bust of 2015, are facing a rather perilous circumstance.”
LOL, I can just see them now sleeping in the oil fields in their oil barrels at night.
This is why it is smart to buy broad market ETFs. Individual sectors often take much bigger dives than the broad market ever does– and then they can take longer to recover, if they ever do recover.