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US Rig Count Rise Continues As Crude Production Hits 20-Month Highs

From the May 2016 lows, the number of US oil rig counts have only declined 3 times and this week was no exception. Up for its 15th week in a row (+9 to 697), its highest level since April 2015, the rig count continues to pull US crude production higher, stymying OPEC efforts at balance, leaving the bullish case for oil fading fast.

Why The Crude Rally Has Fizzled - Part 3 (Of 3)

It is no understatement that it will take a lot of US demand to balance the market. And not just refinery demand, but also product demand too. And not just in the US. In the face of a world saturated with crude oil, the only thing that can truly balance this market is fresh demand from new technology, or a massive reduction in global refinery capacity.

 

Global Stocks Pause Ahead Of GDP Report; Nasdaq Hits Fresh Record High

Despite yesterday's whopping beats by Amazon and Google which sent the Nasdaq to new record highs after hours, this morning futures S&P futures are little changed ahead of the closely watched Q1 GDP report, European stocks and Asian equities are slightly lower, oil is higher after Russia said it had reached the 300kbpd oil cut per the OPEC pact, and the dollar was modestly in the red.

French Selection Ritual, Round Two: Slightly Premature Victory Laps

There is no political constituency for liberty or anything remotely resembling classical liberalism (= libertarianism) in France.I t is clearly time to once again focus on the only thing that one can actually hope for in politicians, and that is entertainment value; luckily we have good news on that front.

This Bubble Finally Burst - Which One's Next?

Silicon Valley investment firms ignored this basic principle for years, dumping their investors’ savings down the toilet into loser companies with no hope of profitability. It was a bubble, plain and simple… and now that bubble seems to have burst. According to Dow Jones Venture Source, venture capital firms in Silicon Valley pared down their investments in tech startups by 30% in the last several months...

Why The Crude Rally Has Fizzled - Part 2

So, why is everyone so bullish? Many oil analysts take as a fait accompli that OPEC-led production cuts thus far are key to balancing the crude market. If this is the case, though, why hasn’t it happened yet?

Bob Prechter Warns Market Correction "Larger Than The Malaise Of The '30s" Looms

"Because people do not perceive their moods, tops and bottoms in markets sneak right past them. At the top, people will love the market, and events and conditions will provide them with ample bases for rationalizing being heavily invested... the degree of the corrective wave will be larger than that which created the malaise of the 1930s and 1940s."

The Last Time This Happened, The Market Crashed

A few days ago Charles Schwab, the investment brokerage firm, announced that the number of new brokerage accounts soared 44% during the first quarter of 2017. More specifically, Schwab stated that individual investors are opening up stock trading accounts at the fastest pace the company has seen in 17 years. Anyone remember what happened 17 years ago?