Trump said this.
Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!
— Donald J. Trump (@realDonaldTrump) April 2, 2020
And then the Saudis said this.
SAUDI OFFICIAL SAY TRUMP'S TALK OF 10 MILLION BBL A DAY CUT OR ABOVE WAS AN EXAGGERATION – DJ LIAR
— First Squawk (@FirstSquawk) April 2, 2020
And the markets did this.
Trump lied, traders died.
I responded by buying the oil pump, but quickly sold it. This is what I’ve closed out thus far.
AMPE +9%
APRN +10.6%
SOXS +8.7%
FAZ +4.6%
LAKE +2%
(NBY -13.8%)
(BIMI -4.7%)
(AHPI -7.4%)
DYNT – wash
MEDS – wash
PUMP +16%
NUGT +12.5%
CLR +1.5%
(PTON -7.9%)
(APA -7.8%)
(NOV -6%)
I am now leaning towards positioning SHORT, especially REITs and I like oil SHORT here — because OPEC sucks and Trump is a fucking pumper.
UPDATE:
Just had a great conversation with Russia's @novakav1. While we normally compete, we agreed that #COVID19 requires unprecedented level of int'l cooperation. Discussed 10mbpd out of global supply. Look forward to speaking with Saudi Prince Abdulaziz bin Salman soon.
— Ryan Sitton (@RyanSitton) April 2, 2020
What the fuck?
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well… this clueless bear is covered in hundred dollar bills again.
https://www.youtube.com/watch?v=yOQGhC5nzus
This is what they’re reduced to propping up the markets, Mr. Fly. The weapons have all been fired, and now they’re using smoke and mirrors.
Absolute collapse. This is a day we’ll be talking about for generations.
HUH?
Mocking the headline of this blog post
Alas. Sarcasm is hard to do in written form without the help of emojis.
Forgot my /s
positive is they didn’t call him a liar. just an exaggerator. Or ‘aspirational’ as the VP would describe that.
If you are the other Georgian who talked about the Big Chicken the other day, you probably have seen the sign language gnome doing his thing these days.
He is an absolute riot.
former Georgian. lived in atlanta in the late 80s early 90s. so i had not – but links do not work on my iphone, i will check it out this evening.
Fly – Are you going to board the SRS train?
Just about anybody could perform better at this point. Even someone who used to be smart and took to alcohol or drugs could do better.
Nowthen, would you like your oil prices higher or would you like them lower? Tough one eh? Think as long as you want before answering.
I will re-short later if they manage to push it up to 2540.