Watch closely here as the potential is in the works to have the price of oil per barrel slide below $90, as gasoline goes through the fucking roof.
Libya is falling back into Qaddafi’s hands, evil will win, and meanwhile a country got taken offline last week.
Japan is going to drive the cost of fuel up, as they desperately need it.
There are a lot of major cross currents going on here. I think the market pulls back, simply because it needs to. Also, if Japan starts selling treasuries, which seems to be the hot topic right now, then money will shift over when the yield gets big enough. For the market, that either means we trade sideways, or sell off.
I’m not even going to waste my time giving specific trading ideas. Personally, I’m all long with a margined hedge of KOL tempering it down a little (that may have to get thrown off quickly). Mostly, I’m light on the balls of my feet.
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Bought to cover my entire position in KOL. People have the future of energy on the brain, and coal is the only heir left.
Oh, incidentally, I’ve started pouring over the latest documents from TLP. So far, nothing critical has stuck out. They had massive goodwill write offs, largely from acquisitions. For instance, they bought a petroleum products terminal from the parent corporation.
Am I happy that they paid so much that they got their teeth punched out at year’s end? No.
But, now their revenue is up 20%, and they just resigned a strong credit agreement, which in my mind means the money keeps flowing and the acquisitions keep coming.
I’ll read the full annual report one night this week.
shits all over the place,and back and forth. market doesnt know if it wants coal, silver, lumber, or oil. one minute their on, the next,etc. on top of it trending down. pick your hard asset, and sit