I am setting up to have a grand day, as crude oil is down one and a half percent and gasoline is down almost 1%, over the dead bodies of oil bulls pushing for higher energy prices.
Yet ERX thus far is vexing me, up over 2% in premarket trading. It should not take a genius to accept that these are somewhat contradictory approaches.
Today, I may just cover my short ERX position. I do not enjoy being crushed beneath a potential Greek bailout. No sense in fighting crazed maniacs who may go full long, should this Potemkin issue be resolved. Never mind that the European affairs weren’t what sparked this sell off to begin with.
There are idiots about, and reasonable facts and truths as thus will not faze them.
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