WTI just broke $40 to the downside, off by a staggering 4% for the day. Energy stocks are being HARANGUED by losses, now off 5% for the session. And, naturally, the NASDAQ is +15. But reality is beginning to set it, just a little. The Dow is down 60, reversing earlier losses.
You’d have to be insane to ignore this price action in crude.
Repeat after me.
The price of crude really does matter. The price of crude really does matter.
Now go write that in your book 500 times until it sinks in.
By the time you’re finished, I am fairly certain the market would’ve recovered all of its losses and soared to new, record, perverted highs.
If you enjoy the content at iBankCoin, please follow us on Twitter
Tis merely a consolidation.
You’re right, it does matter. Imagine the massive Nasdaquiri gains when oil rallies tomorrow.
Atta boy
Fear August is all I gotta say.
Millenials don’t own cars so logically crude is going to zero.
The economy is run on Pokemon, tweets and snapchat. Dow 20k here we come.