iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,608 Blog Posts

OilFAGS Come to An Agreement; Dow Flirts With Historical Decline: Futures Are Sharply Higher

It appears the oilFAGS out of the Middled East have come to an agreement, slicing production by a mere 600,000-800,000 barrels per day. As such, oil is +1.5%. I think people expected more, but instead got less, so oil is higher.

Futures are +130 and Nasdaq futures are +35. It doesn’t feel like we’re off to the races again. We’ll see how she opens.

I’d really like to see another down day for the Dow, since it’d market the longest consecutive slide in 40 years. Breaking records is cool, and also fun, especially when no one really likes them.

It’s Friday and I have plans all day long — will be in and out of the office — partaking in all sorts of chicanery. It appears my winning streak will come to an abrupt end today, me being on the wrong end of the oil trade long DRIP. It was a very nice run, but I’m not gonna hold onto stuff just for the sake of preserving a streak.

Don’t worry — we’re still crushing it in Exodus and I have plenty of longs that will break the fuck out today. I can start a very new, and a very beautiful, and thin, winning streak — perfect — today. Come and join us — it’s free for 7 days.

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