This is hardly what I’d describe as ‘tumultuous’. If the desired outcome of the chatter leading up to Doha was to put a bid under the price of crude, consider this excursion into idiocy a great big satanic success. All of the House of Saud members are celebrating tonight’s mild 5% drop in crude at their harems, as they sashay from one room of decadence to the next.
Over here in the states, S&P futures are off 9ish, all very boring indeed. In order to get me excited, I’d need to see crude down 10% and SPY futs off by 3% to get me out of my seat. There is nothing desirable about the current state of crude. But the bulls seem to be intent on holding it up for a little while longer.
God willing, as the night matures, true sellers of an ominous nature take control of this cartoonish response and enact punitive measures against all of the green-shooters littering the markets with pestilent buy orders.
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Guess it was sashay into the no internet connectivity room of the palace.
I know some XLE longs here .. good nite.
I believe today is the rollover so tomorrow will be June Spot trading for oil. Wouldn’t surprise me if they kept it afloat without a substantial drop.
Wow, I thought that they would have had better control than that. The actual outcome of the meetign was predictable if they expected Russia, Saudi Aramia, and Iran to agree on anything. Still, I expected they would be able to put forth a good face, but looks like nothing.
We’ll see if they desperately try to prop oil up Monday
The Nikkei’s brief moment of raging higher with a stronger Yen finally broke down Friday & today
PS: House was the best TV ever made
That Yen looks dangerous. Very much so. Right now overnight.
The thing about oil is the low is in and if it stays low the economy will thrive. Filling up your vehicle to buying airline tickets the list goes on. Oil will only stay lower when it can be replaced which should not be in our lifetime. JMO
Bingo.
Clever.
Hey, I’m a little late. One guy here tagged me as some bad luck charm a while back. Probably true. This week looks to be pretty gangster. Panda level really. Good luck all, unless you’re long, then you’re dumb, but good luck on getting out soon enough I guess, although markets might open pretty low, but that probably won’t be the final low of the week by far, anyway; hugz/