This is the classic olde bozo rally, where someone gets elected and promised to wreak havoc on an industry, only to see said industry fly higher as if they just invented condoms. We are talking BIG FUCKING OIL HERE. By the looks of it, BIG FUCKING OIL is soon to be deep dicking your water reservoirs soon to tap into a little more sour crude. They’ve got the rigs ready to head up into the arctic to drill straight thru penguins and polar bears, right to that black gold. Big hatted men from Dallas will count their hard earned cash, whilst investing in solar panels and ethanol based energy.
Meanwhile, aluminum and steel are behaving like we’re about to undergo another industrial revolution. Major spikes in names that make money off Chinese trade.
Yesterday there was chatter of resolving that Huawei CFO business in Canada. Under Trump, China was a dogged enemy. Under Biden, I believe BUSINESS AS USUAL.
So many places to make coin, so little time.
Up more than 200bps early going.
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What does the Texas Railroad Commissioners say about all of this?
Just sold 60% of energy etfs plus my OII stock bought within last 4-5 weeks.
Put in some limit orders to sell while playing tennis this AM.
Traditional technical indicators like rsi,macd,and stochastics says it’s time.
Probably sell the rest later this PM.
Yup.. cept ..hmmmmaybe drilling straight thru penguins would be a tad too much. Even the anointed can only go so far if they are a white male. Might have to wait for Kamala for the penguin slaughter.
20 years ago it was peak oil (production) and now it’s peak demand.
And 6 months ago oil was going to $ 0.
Blah,blah, blah.
There is always $$ to be made on the mentality of the mob.
And btw gold isn’t dead now because of bitcoin.
Seasonality suggests a pick up in a few weeks.
Thanks for the knowledge TC!