It’s almost stupid how regularly nowadays that a saving grace, 2pm salvo kicks off an end of day buying spree.
Who’s doing the buying here? I know there are plenty of you who are hyper-bullish. You’re always hyper bullish, and you’ll put that pay check into stocks no matter what. So there’s some I guess. And after October, I’m sure there are plenty of shorts that are being suffocated by the rising tide too.
But the consistency with which a 2pm rally materializes to magically save you on down days over the last month and half…it’s maddening.
I want to refrain from acting like some sort of crazy conspiracy theorist, but it is damn hard not to.
In other news, every position I have is losing me money today. Isn’t that just great?
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Mr. Thaler,
appreciate your honesty, but you should be like those fast money guys on CNBC and proclaim that all 4,298 trades you’ve made this year have been profitable.
best regards,
(laughter) Buy oil (oil tanks). Don’t buy oil (month long rally in oil). Buy oil (pending).
Obviously you don’t follow Cain, considering 90% of his last posts have basically read “Guys, I’m losing more money” in increasingly aggravated undertones.
I just read Jake’s blog on Earl. What is your counterargument again for being bearish on oil vs. his explanation?
Same animal but it’s the compliment. Huge euro weakness and/or austerity in EU economies to cause rampant dollar strength/demand destruction leading to lower crude oil prices. Not much has changed since July…unless it’s the 2% manufacturing contraction in Europe in September that is.
EU is a fucking mess, and whatever they come up with will dissappoint! Let it burn, its quicker!
I live in the oil patch and live and breathe this shit. Crude oil is so overpriced and no one has an answer for why? Yea, you hear the Iran BS but the facts are that Cushing is busting at the seams. Just like North D, western Oklahoma is a boom town. SD and CHK are drilling like there is no tomorrow. SD is moving 23 more rigs into Alphalfa County and 4000 mobile homes. It’s crazy. But when oil cracks that will all go away fast. It’s coming.
Before or after $200/bbl earl?
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Flickr- thanks for the field report.
Thanks for the update.