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
22,563 Blog Posts

COMMODITIES FUCKING IMPLODE!

Based upon the assumption of a tight Fed, oil and has prices, alongside every single other commodity in the world, have collapsed? Is that the narrative?

BULLSHIT

The only reason for a rout like this is SLOWING GROWTH and a crushing lower of GDP and earnings.

LOOK AT THIS SHIT.

So you mean to tell me wheat is down 3.4% because the Fed is MUHHHH hawkish? INCORRECT. The only logical assumption is the following.

Russian exports are at record highs and intermediaries like India are reselling to the places that need it. There are NO SHORTAGES of basic materials. Any slowing of growth will naturally hit prices because there will be lessened demand. That’s all there is to it. There are no real sanctions on Russia. Prove me wrong.

NASDAQ is -200 and I dodged the entire meltdown because I had gone to cash, BASED UPON SCIENCE, at the open. I am now 100% long, just closed out a monster SOXS hedge — and reserve the right as a tax evading citizen to apply more hedges into ze close.

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3 comments

  1. soupbone

    The ‘black-out’ period leading to the next Fed meeting looks to be off to a roaring start. If there is any demand change in commodities that can operate this quickly it’s speculative demand, based on this fear or another fear but most likely the Fed.

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  2. john galt

    It’s almost like you believe headlines and news stories. This dream called life won’t end in a nightmare. You may wish it, want it, try for it but don’t let it overwhelm you in any endeavor. Good ol Bob says everyting is gonna be ok

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  3. soupbone

    The lack of respect for oil’s place in society, even if it is only for another 50 years, has led to a muted response from producers to the ‘boom’ prices’ that are in play. I guess playing boom and bust is getting dry. But based on the shear laziness of people in general, and tightening money, oil stocks should not be sold.

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