What a fucking day.
Trump pumped oil markets with a tweet, which was later denied by the Saudis. Then markets faded like a motherfucker, losing a 350 point rally, only to rally up again after the TEXAS RAILROAD COMMISSIONER offered this fucking tweet.
Just had a great conversation with Russia's @novakav1. While we normally compete, we agreed that #COVID19 requires unprecedented level of int'l cooperation. Discussed 10mbpd out of global supply. Look forward to speaking with Saudi Prince Abdulaziz bin Salman soon.
— Ryan Sitton (@RyanSitton) April 2, 2020
On that news, markets lifted off and oil ran up 10% from the afternoon lull. You have to be fucking kidding me. I’ve seen it all.
DYNT – wash
MEDS – wash
Into the bell, I went short real estate, oil, and small caps. I am long gold and consumer staples, positioning for a Friday collapse. Anything can happen and the news is now important to juice markets. I sense the oil markets are now the most important for the market, so look for real chicanery to come out of OPEC and Trump the next few days.If you enjoy the content at iBankCoin, please follow us on Twitter