Out of all things, this is my favorite birthday present. WTI crude plunged by more than 5.7%, amidst tumult and turmoil. OPEC members agreed to continue their idiotic supply cuts through the first quarter of next year. This had a deleterious effect on the sick and perverted minds of traders, who were expecting everlasting cuts, rigged markets, perfidious men in nightgowns making them rich by starving out their own people.
“Let the oil flow and flow with vigor, along with it the blood”, a great unnamed source once told me.
Subsequently, oil and gas stocks hit rock bottom today, entirely fucked, entirely without respite. This is an industry without a purpose and it has been tossed out like red meat to a pack of starving wolves. Not before long, I expect this disease to spread and permeate every orifice of the market — even bitcoins, which, incidentally, underwent a most heinous reversal in fortune today.
On the plus side today was retail and airlines, a flawed and imprudent trade — one with a very short expiration date affixed.
As for me, my model demands discipline and I’ve been stuck with 80% of my assets in cash, 20% in GLD and TLT. If stocks outperformed risk off assets by tomorrow afternoon for the week that just passed, I will then reduce my TLT/GLD positions in half and allocate 70% of my assets into a diversified portfolio of stocks beholden to the tenets of fundamental analysis, curated by using technical factors inside Exodus that is destined to send all of you shit talkers in my comments section to an extended period of forlorn supplication.
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Happy birthday, Señor Tropicana
Oh, How lovely you made pole position
Aw well, that’s what happens when there’s talk of letting the spice out of SPR=> the price of spice goes down and local spice frackers go bust; but let’s get rid of the spice anyway because keeping it in reserves is what chimps would do.
NATEHORS
A 9 Vix is not in contradiction,
BUT IN CONCORDANCE,
With what I said 4 months ago,
I said that the index-programmers
were clearly cannibalizing the vix
or relying on a cannibalized vix
Shown to be the case from Jan/Feb
AT THE 11-12 LEVEL
Vindication as it continues
Do you want to argue that low 10 or under has stable foundational structure over time and not escalating extremes?
Only somebody living under a rock would not know that VIX is rigged and actively manipulated. We can only argue what VIX level is/not pleasing to the eye. The pukes at the FED are painting the VIX (and all the other) charts by numbers to play and toy with TA chartistas. What a stupid farce.
How bout you put your money where your mouth is and put the entirety of your portfolio in $VXX and tell me how you’re doing in a year?
Yes, Showtime. Bet heavily on $VXX, keep us abreast of the situation. I’ll make the popcorn.
Happy birthday Dr. Fly
Happy 41st.
41! So that’s why Fly is pissed at Trump. He was hoping that he’d follow through and allow drug re-importation so he get cheaper liver pills and Viagra from Canada.
Oil and oil stocks are shit. I learned my lesson long ago. I wont invest 1 cent in the sector until there is a huge shakeout in the American shale industry. Way too much production capacity still out there thanks to easy money policies = no chance for a meaningful and sustainable increase in oil prices
On top of that, alternative fuel sources and electric vehicles are a huge secular headwind.
But candidate Trump’s impulse (his correct impulse IMO) to be against govt picking and subsidizing the winners in alt energy is a tail wind. That is …if he actually stuck by anything he once spouted.
O captain my captain. Happy birthday Sir Fly.
Happy birthday.
Happy B-Day Boss.
I’ve been waiting years for you to reach the 47.5 mark. With a little luck we will both be here for that day. Get thee wheeled chair and manholed cover ready, time waits for no one. Join the old man club with great vigor, many don’t achieve the goal. Indued.
Special for you
Happy Birthday !
Have a cake !
https://youtu.be/axERGIC5K8s
Did not GS just issue two positive notes on crude Monday? They must have had a stack of pink tickets to drop on their Muppets. Fuckin’ Clowns.
Have a Great Time on your Birthday! Dr. Fly!!!
The evidence that current cuts are starting to work is becoming evident in U.S. oil inventory numbers. The Energy Information Administration (EIA) reported that U.S. crude supply fell by 4.432 million barrels las week including a big 787,000 barrel drop in Cushing, Oklahoma.
This came as U.S. exports fell and U.S. oil demand surged. The EIA said that U.S. crude oil refinery inputs averaged 17.3 million barrels per day, a million barrels a day higher than a year ago running at 93.5% of their operable capacity last week. Gasoline production surged to a whopping 10.2 million barrels per day. Distillate fuel production also jumped to an impressive 5.2 million barrels per day. The surges in U.S. demand offsets even another impressive increase in 15,000 barrels a day seems a bit small when you compare it to demand.
– The Energy Report 5/25/17
Ok, “The Energy Information Administration (EIA) reported…”
I am not known around here for being skeptical or doubtful of anything that comes from internals of the zionist government, i.e. job reports, GDP, financials and all the other very credible, accurate and reliable numbers; BUT, in the world of fake news and fudged numbers (i.e. non-GAAP), is that EIP report worth anything?