The front month contract for crude closed at NEGATIVE $37 because of financial rigging and all sort of chicanery. I took the opportune to re-balance my portfolio and get long natty, gold, a little tech, AND SHORT THE SHIT out of the indices. I am now positioned for WANTON GLORY and shall not cede this position to the bulls who have something dreadful coming their way.
GET YOUR “LIMIT DOWN” SHIRTS NOW AT THE IBC MERCH STORE.
Markets closed down nearly 600 and we have another day left of that dastardly May contract for WTI. I am hoping it can trade down to NEGATIVE $666 tomorrow, fucking all of the banks on the other side of that hedge.
Look, I’m taking a shot on goal here. We’re up 27% over the past month and it’s childish and stupid.
This isn’t anything new. In January of 2009, right before the final crash to SPY 666, the markets behaved in the same manner.
For those of you new to the Fed rigging game, I wrote his in between market crashes in early 2009 — 11 years ago.https://t.co/ZMdbu6lOK6 pic.twitter.com/3oeFtofrqe
— The_Real_Fly (@The_Real_Fly) April 20, 2020
STEEL YOURSELVES lads, another fire is coming.
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Negative (short-term) oil pricing makes perfect economic sense when you factor in delivery and storage fees.
It the same reason that farmers have had to throwing away milk and crops.
The same reason banks can charge negative interest rates (otherwise you pay someon to guard your huge pile of cash).
It’s call deflation, and it’s the FED’s nightmare scenario.
If they get orders to use the helicopter, they can create inflationary expectations ..and inflation ..in short order.
I nailed TVIX today and bought SOXS. Also started my FB position calling for $135 by September. Ready to skull fuck stocks into dust
I like the FB short 98% rev from ads.. The next year is going to see massive ad spending cuts to shore up budgets.. My wife is in media and companies are cutting ad spending like crazy right now. I almost picked up some naked puts today but decided to go short Chipotle going into their call tomorrow.
No demand equals no ad revs from their regulars plus FB is a scourge on society and I HATE them. Too many pikers are in that name.
When I look at the Zuck I go into an uncanny valley, else I’d personally skull fuck him too
Is this like your “people aren’t building things outside my window” DD?
You forget this is an election year? There will be no shortage of ad revs because we all know there is no slowing down campaign spending.
I found out today that the negative crude oil pricing made it to my local Wawa gas station.
I just went in there to get a coffee and when I went to pay for it the person behind the register said the coffee was free plus he gave me a $5.00 bill. When I asked him what the deal is he told me all customers are getting free $$ today because the price of gas went negative and Wawa owes everybody money. When I explained to him I have an EV he said no matter. Everybody qualifies for negative gas pricing.
Nice guy.
https://www.barchart.com/futures/quotes/RB*0/futures-prices
Whatever he was smoking, gasoline never went negative.
That is a lie. I paid 36 cents/gallon today. Negative my ass
There better be some Feathered Gravy Gods merch this November
Free oil and unlimited Fed bucks not enough for a new bull market?
Santa Clause only comes around once a year, and he’s early.
If I offered you $5 for some of your (literal) poop, would you reach on back and pinch a loaf, or would you say, “I’m holding out for a better deal”?
IB earnings:
https://www.zerohedge.com/markets/ibm-reports-lowest-revenue-century-pulls-guidance-keeps-dividend
Not pretty, plus there full forecast for 2020: “we have no idea”
Who-coulda-known big tech earnigns (with < than 1 month of any shutdowns) would be hrt by COVID-19?
ZH sure knows how to sensationalize. Why not lowest revenue of the millennium?
“A hard man is good to find.” – The Fly
https://www.mcall.com/coronavirus/mc-biz-coronavirus-genesis-lehigh-county-q-and-a-20200420-banmxcnwpnbmxp2irubgexh5lm-story.html
Let’s not forget COVID has plenty of time to visit every nursing home in PA and WI before early voting.