This page has been archived and commenting is disabled.
WTI Crude Plunges Back Below $56, Nasdaq Red On Gilead Weakness
It all looked so rosy just a few short hours ago. WTI crude has slipped from over $58.50 (once again testing that upper band of resistance) to back below $56 and down almost 2% from Friday's close (not stabilizing). While the S&P and Dow (futures) remain green, the Nasdaq has tumbled into the red on the heels of Gilead's weakness (the 6th largest name in the Nasdaq 100).
WTI crude breaks below $56...
BofA thinks the weakness will continue...
HFs [specs] bought Crude contracts at the strongest weekly pace in June 2014 since the selloff in crude started. However, this was only the fifth week of buying in past 25 weeks.
Technical analysis indicates thatfor now strength of downtrend suggests remaining bearish.
MAA also suggests trend remains bearish.
And Gilead... (down 11%)
Is dragging Nasdaq lower...
As the S&P and oil remain decoupled...
»
- 7702 reads
- Printer-friendly version
- Send to friend
- advertisements -
Gilead had better make nice with Express Scripts.
Gilead needs to die. That is the only fitting end for such a rotten pile of manure company.
...or Kim Jong Un will send his super-hack force to deal with them.
OPEC will need to maintain low prices for months to close down the oil shale and tar sand sources.
OPEC may not exist in a few months. I expect a lot of the OPEC members to either leave or kick the Saudi's butts out.
<--- YES
<--- NO
Am I ignorant that I never heard of Gilead before ?
You're not alone.
Gilead- I'd never heard fo them either, but quick internet search shows they are part of the antipodean axis of evil, ie the health care industry/pharmaceutical ondustry.
The reason Gilead tanked was because Express Scripts, an evil tentacle of the evil health inurance industry, decided to have another evil Pharmy outfit called AbbVie, be the exclusive Hep-C drug provider to its "patients", at 100,000 bucks a pop. Gilead WAS going to get this exclusive, but somehow got shafted.
The moral of this story- no-one is going to take care of your health but you. If you are a complete dumbshit, go ahead and stick a dirty needle in your arm, get Hep-C and then find yourself at the mercy of a vampire gang that will suck the money right out of your veins.
Interesting. A close family member works for Gilead. Six months ago he was excited for them, as they had come up with a cure for Hep C; not just a paliative, "you'll be taking this for the rest of your miserable life" treatment. But there was some kind of regulatory hold up - not because it didn't work, but because the insurance companies weren't ready for the $80,000 price tag for the 6 month course of treatment.
Now this. At the time, I looked into the company further since it didn't sound like a normal pharma research outfit he was describing. Didn't find much on Hep C, but alot on the intricate web of patent licenses they were inevitably involved in. Also he said the company was trying to grow (unlike most these days), but had experienced some "brain drain" - replacing a senior researcher is not a simple thing.
Have you heard of satan? Then you know their entire executive team.
Santa 18k along with chemtrail enduced snow enroute lol.
Unless kimdongjuanshitfuck blasts rudolf out of the sky with a gross of bottlerockets.
I wonder if that's how they set of nukes? I feel sorry for the poor bastard that has to get underneath one and light the fuse.
What pisses me off is that if Sony was going to make or made a movie about killing Obama every piece of shit that voted for him would be rioting in the streets....
+1000
And this pretty much sums up the sorry state affairs in this country.
I just came back from the store and a majority of vehicles on the road here that I saw this morning in Lafayette La are oil or energy related ..traffic is light with the holidays so more prevalent sightings I guess ....
Want to start asking these people when I see them in the store and ask how you think your job will be in a few months but I don't feel like getting the shit beat outta me....
Feel like saying ....yea I'm unemployed and get a whopping $247 a week... that won't cover that new F250 note ya know...
Don't ask me why, but I'm wondering, "Why did Tyler, in his infinite wisdom, pair WTI with Gilead, when there is no obvious link?"
Then I thought, "Bond contagion." Maybe Gilead is the canary in the coal mine. If pharmy bond yields start to rise, that would indicate that oil bond contagion had spread past the shale swamp, and into the general marketplace.
Throw in some Fed/Goldman-induced panic in eastern Europe (Belarus, Ukraine), which is bound to affect other European markets, and the creeping contagion silently spreads.
But... a quick check of Gilead shows yields safely below coupon. Another hope that this shit-show will be crushed under its own weight, alas, crushed.
http://quicktake.morningstar.com/stocknet/bonds.aspx?symbol=gild
Natural Gas down 9% on the day. WHOOAAAAA!!!!
"Stable"?
It's volatile.
NatGas looking for a floor...wow down 9.4% NOW ! Wha ?
NatGas collapse !!
Lead Zeppelin ! (heh.)
When the Levee Breaks....
Amazing.
"Big Head" Todd Park Mohr..havin some fun.
Memphis Minny's guitar, amp AND song...
https://www.youtube.com/watch?v=fKIyVxhW2nU
Yellen Line soon to be re-named the Yellen-Maginot Line.
Yellen is loosing her NatGas...going down.
NatGas is stinking down the Energy complex.
A hack weatherman tells you its raining, which any gob can look out the window and do. A meteorologist tells you about the warm low pressure front meeting the cold high pressure.
Zero, care to share why Oil inflected at that specific time? Something insightfulful such as a microphone finding it's way into the hands of an OPEC mouthpiece as EU closes would've at least been half an effort. These charts don't reflect what you usually post!
2000 years to go from "there is balm in gilead" to "buy the fucking dip" explains a lot about humanity.