I’ve been busy today decorating my house for a birthday party. I see my oil stocks got fucking wrecked. This is typical and I always expect to lose money in my energy bets. Nevertheless, I’m not at my stops yet and there’s nothing to do until my losses become untenable. Truth is, oil has been jimmying higher at the same time chemical stocks decreasing, which is odd since it implies businesses do not foresee an uptick in end user demand to marry the sudden spike in crude.
For the day, I edge-lorded down by 0.9%, Quant sharply lower by 0.77% thanks to the bashing in of the head in LRN. This is typical and again I expect to undergo some setbacks following a frenetic rise. I will get back to trading more actively tomorrow. As you know, I was down south for the past 5 days, cavorting and sashaying in search of a new plantation.
Today’s only red flag is the move lower in crude stocks. We cannot allow this to continue for too much longer, so you’ll want to keep an eye on that. One more leg lower and I’ll be stopped out of 3 or 4 freshly purchased stocks.If you enjoy the content at iBankCoin, please follow us on Twitter