I am going to try to get through this post without delving off into unnecessary prose and just give you the flat unvarnished facts.
CVX for APC with a 35% kicked. Massive news for the oil patch. This is a deal valued at $33b. Big oil does not invest like this, lest they feel strongly about present pricing for WTI. On that note, WTI is higher by another 1.4% this morning, edging towards $65. Trust me when I tell you — get long the frackers — SLCA, EMES, TUSK, FRAC, SND, HCLP etc.
Both JP Morgan and WFC are up sharply on better than expected results.
Lastly, and this goes without saying, markets do not drop on Friday’s.
Happy trading.
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I like PXD and CXO on this news
With glory. GUSH up 12%. I was waiting for a pop to go all-in, glad I bought half early. Still, it’s not too late. Long way to run.
Hey market makers
it’s called a blowoff
fantasy vs reality
Bears love it