In spite of what the Commodity King said earlier today, the iced cube marinator in Chief, Art Cashin, believes you should be exceedingly wary about the prospects for crude oil, as it delves lower on a daily basis.
The truth is, as you can see by the market rallying, NO ONE GIVES A SHIT, ARTHUR.
Back to your regularly scheduled cocaine rally, ya’ll.
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You mean the algos buying Caterpillar, IBM, Chevron, Home Depot and Microsoft by the same people who want hrc as your ruler? That rally?
It’s gonna be a sight to behold when we see the madden centaurs running amok again on the trading floor!
Mr. Cashin is a smart man. I would love to sit with him and discuss world affairs. $COP announced additional workforce lay off of about 1000 employees, 6% of its workforce. Total job cuts since 2015 is roughly 4,600. For the second quarter, COP reported a loss of 86 cents per share.