iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,593 Blog Posts

BOTTOM: Cramer Says ‘Oil is Collapsing’

Whenever I upload a video to Youtube with Cramer in it, the fagLORDS from NBC have it removed. I suppose Cramer is a very valuable person to attract ad dollars and NBC will be damned if the plebs get to enjoy his brand of propaganda anywhere but NBC. They own his ass.

The big news today: OIL ENTERS BEAR MARKET.

Cramer opines on that, providing some rationale, and paints a grim picture for crude.

Dare I say “BOTTOM”?

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7 comments

  1. numbersgame

    Good luck with your Exodus troubles.

    I still have not found a bull (here or elsewhere) to answer the question: will big techs make new ATHs in the next year, if not, what large-cap stocks will take the market to new ATHs?

    The oil/commodity sector may be able to get that done. Of course, a commodity run would imply high inflation followed by (or coinciding with) rapidly rising rates, which are both lead-ins for the next downturn.

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    • soupbone

      Shale might have changed that dynamic this time. In any case if oil does not behave like in past cycles that will make the landing softer. No credit to the fed there but it might help (if they care).

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      • ferd

        Ah hem. The president explained oil prices just yesterday. When they go down, it’s because of him.

        “That’s because of me.”

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        • numbersgame

          Also, while Pence and Trump have used mean words to describe Iran sanctions, their actions have spoken muhc louder: all of Iran’s major oil importers get exmptions from their sanctions. During Trump’s remarks, he specifically said that he doesn’t want to do anything to hurt oil prices.

          Trump is right: between Iran sanctions, Khashogi butchering reaction (possible US sanctions and backlash from SA), and Trade wars (slowing near-term econmics), Trump holds the cards for oil prices.

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  2. ferd

    Oil is certainly due for an oversold bounce and the ex+prod stocks don’t yet seem convinced of the bear. Anyway, still in DRIP from yesterday ..it should be “ejaculating” higher ..but, as yet, is only up modestly.

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  3. jbandy

    Yesterday was a big, fat head-fake. I feel sorry for anyone who piled in. None of the issues that brought the market screaming lower in October have been resolved. Most importantly, the Fed will remain hawkish. Also, nothing has changed on China trade wars. In fact, the Dems tend to be even more hawkish towards our foes than Republicans (which tend to be driven more by their pursuit of wealth). So, interest rates, China trade wars, and struggling EU, Chinese and global economies generally will be a huge weight on US growth and coincidentally stock prices. No significant Turkey or Santa Claus rally this year.

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