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Oilpocalypse Wow - Stocks Pop, Dollar Drops As Crude Hits 5-Month Highs
Terrible China data... no change from Draghi... and dismal data in the US... BTFATH in stocks and crude's move made this clip seem more than appropriate as "we see the worst in people"...
* * *
Before we get started, two rather notable things today:
First, DAX dumped at the EU close (for absolutely no good reason whatsoever) and that started the divergence between US and EU stocks....
And Second, WTI Crude was unstoppable as it spiked to $56.69 (from $50 on Friday) - crushing the WTI-Brent spread -
Breaking to its highest level since Dec 2014...
* * *
Small Caps led the way on the day (but Trannies decided today - after a huge short squeeze spike at the open - that higher oil prices are not good)... UGLY CLOSE
Futures show the big moves started as Europe opened...
Which on the week leaves Trannies lower - after tagging unch briefly...
The S&P perfectly top-ticked the trendline from March and reversed into the last 30 minutes...
VIX was monkey-hammered back to a 12 handle...
But credit was less excited about the afternoon equity exuberance...
Treasury yields overall were mixed today (long-end slightly higher, short-end slightly lower in yield)
The US Dollar dropped again - mainly after Draghi's no comments sparked EUR buying but there was an early afternoon tumble as oil soared...
All commodities gained on the day - as the dollar drooped - but Crude caught the attention of most...
Which crushed the Brent-WTI spread...
Charts: Bloomberg
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more musical chairs.....everybody is hovering closer and closer to the nearest chair, but nobody dares sit yet.....
But, but, but,
all last week ZH told me Crude Was Crashing!
(I don't understand this shit either. Inventories are up the Wazoo)
Here's a cheat sheet:
A lower dollar is going to save us with exports. => Good news
A strong dollar is going to draw in investors. => Good news
Cheaper oil is going to give the consumer more health care spending money. => Good news
More expensive oil is a sign of a strong economy. => Good news
I could go on, but just remember it's all => Good news!
Damn, I'm printing out this cheat sheet right now! Awesome. I feel so good now. Also, shorting financial news stocks. No need for them any more.
Hey, thanks a million for all the good news. I was beginning to worry until I read your post.
Keep up the good work. My blood pressure medicine is expensive and you've just saved me a bundle of money.
sounds like you just figured out the reverse Tyler Durden gay cowboy straddle, congrats...
WTI will come back down quickly. Just give it a day, or two max...
Actually, the SNB sat down a few months ago.
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
anyone aware of this? also see previous post on cali military build up.
“Gold, the Renminbi, and the Multicurrency Reserve System“http://thewealthwatchman.com/guess-whats-being-discussed-at-the-new-secretive-bankers-meeting-in-dc/
yea. this meeting is not the reset. This meeting is the 'get your house in order for the reset'
of course, they wont tell the participants the timing or nature of the reset because it would then be fully front-run priced in.
But expect this: Paper gold will be rehypothecated to 200:1 to enable the price to remain capped around $1200 after this .
Even my idiot sister-in-law went USO long today .... so I'm absolutely positive the top is in.
Ah, driving season approaches and US oil production has begun to fall! Yet inventories are bursting. Grab the popcorn!
Took oil profits today in my trading account.
Let the long-term account energy gains ride as the income is good.
Looking for the next swing-trade opportunity...
I would say TVIX or UVXY, but can you stop the bleeding?
Got to get Rbob higher before Cannon Fodder Day (May 25)... so the sheeple will shelter in place
PS - how's those Russia sanctions working out Ziocon cunts? RSX $20.50
“Bad Stocks Rising” by Creedence Clearwater Revival
I see the bad stocks rising
That means trouble’s on the way
No sense for shorts to keep a-fightin’
I see a big squeeze today
Don't go short tonight
Well it's bound to take your life
There are bad stocks on the rise
I hear the big money’s showing
That means the end is coming soon
R2 pivots over flowing
Better recalc that Risk of Ruin
Well don't go short tonight
Well it's bound to cause you strife
It’s the bad stocks on the rise
Hope you got your act together
Or else, you’re surely gonna die
Time to shift funds from bellwethers
Or kiss those performance comps goodbye
No, don’t go short tonight ...
superb....best one yet IMO
Glad you liked it, Squid. This one was so straightforward, tailor-made for parody, nearly writing itself in 5 min. Most others I have to stare at for weeks before a “eureka” moment hits.
heard Fortunate Son the other day piped into some store ... pretty sure it was lost on the sheeple, but maybe CCR's best lyrics
Their Americana look and sound leads casual listeners to forego probing for any lyrical depth. Many think BMR is purely about the lunar cycle, others believe he’s singin’ “there’s a bathroom on the right.”
“Bad Stocks Rising” by Creedence Clearwater Revival
Good job! Here's the CCR tune to go with it...that song brings back memories...
https://www.youtube.com/watch?v=zUQiUFZ5RDw
Throw in a line like "I see Phoenix Capital Doom Porn up above" and you've perfected it.
Got to love seeing a company miss estimates by 50% and be up 13% after-hours (NFLX)...bubblelicious
OPEC announce increased production last week.
Inventories of oil are at bursting point.
Demand for oil is low.
But the price of oil increases.
This does not compute.
any chemist can tell you that petroleum is relatively volatile.....
Best non-female avatar on zerohedge.
Thanks, and bow-wow. (It is an artistically modified shot of our wonderful dog, Bones, who alas, chewed his last sneaker a couple years ago...<sniff>. The tongue was part of the real original shot, it was a scary and impressive photo...I only photoshopped to move it around.)
RIP Bones
US Gov uses their oil cartel to destroy the shake industry .... then decides it is a bad idea and that oil must go up before the entire economy fails like it isn't good news
Oil goes up as all the channels get stuffed
So like what is there not to get here~ as it is all just pretend capitalism to blame for all that's wrong with fascist barbarianism.
I think the oil decision was a competition between the following political owners of the US government:
Given such opposed goals, this always results in schizophrenic actions.
petrodollar losing control... by comparison to the rest of the world, people in the west enjoy a considerably higher standard of living that is very oil-dependent...
tick tock motherfuckers...
Of course it does!! EIA inventory number was ONLY 1.3 Million barrels added to the Cushing almost full storage. [I shoulda bought the USO Calls rather than the Puts. Sigh]
Where did you get low demand? Gasoline inventories have dropped for three of the last four weeks and yet gasoline production is .7% higher than last year at this time for the same four week period. That says to me that people are buying more gasoline than is being produced and that is more gasoline than was produced last year and thus, demand for gasoline is up. Not surprising given the lower price. It takes 2.2 barrels of oil to make one barrel of gasoline and gasoline supplies dropped by 2mmbbl last week and 4mmbbl the week before. Figure out how much oil is needed to make up those losses. The surplus oil will be sucked down by the demand for gasoline as supplies of gasoline dwindle.
Yea I got some yummy uvxy at a yummy $10.80 rounding me up to 2400 shares now.... To go with the rest of my rattlesnake portfolio making them pretend to fix all the disasters put in place to haunt my previous longs.... Come on Dow 19K.... Hoping to get a huge tax refund later this summer.....
"VIX was monkey-hammered back to a 12 handle..."
...yes indeed...got a snortful of july vix calls before the close...
"Hey Koolaid!"
"Oh yeah!"
One third random noise
One third algos screwing retail
One third people trading off the farts of central bankers
Nothing to see here people...
i have been watching zh charts for 6 years. haven't earned a dime. fuck the charts.
I have been frontrunning the shit out the Fed and done very well, thanks ZH!
do you use discrete time frontrunning fed?
Cool cause I would hate to make 775,000,000 on short term taxes and in one year! My shorts can't sit here forever and ever and ever!!!
My rattlesnake portfolio just loves to shake its go ahead and fuck me rattle!
Though I went wanting precious metals with my string dollar and going short first of this year but I can't seem to stop building this beautiful beast,
Can markets rise for ever and ever now? Lol. Hey I will pay to watch that!!!!!
There's a new ETF just for you : STFU
Take a chill pill shill... How about the debt charts? Like our National debt went from 9.3 Trillion to 17.5 Trillion or the FED'S balance sheet going from 780 billion to 4.3 Trillion + off balance sheet bailouts to banks? Are you just fucking stupid or can you not see a Ponzi scheme right before your very eyes? OBTW what you think you could have earned isn't the case until you sell... coulda shoulda woulda..LMAO
They'll be pmping and dumping oil at this level for a while now, call it umm. . . volatility.
Paper gold can be manipulated easily, not an industrial metal.
Oil, not so much. It takes a shitload just to simply maintain the western standard of living...
the rest of the world has had enough of the petrodollar...
ain't getting easier to extract either (who else, other than oil producers, has been selling their product for a loss in 'merica... )
tick tock motherfuckers...
Give me one reason why you should not dump everything you own into equities, when the Fed has pretty much put up a sign stating that if stocks drop they will outright print money out of thin air to buy them up to keep them up forever.
You would have to be an idiot not to dump everything into whatever the F(*)k the Fed and its owners buy.
Everyone knows the markets are zombified animated corpses being pumped with counterfeit money, and that if they stopped it would implode and slaughter them, but the Fed isn't going to stop so that isn't a real concern.
The fed is there to make specific people rich, the stock market is there so they can counterfeit money and launder it through the markets to their friends, some of that blood money spills over into the pockets of speculators to keep up the illusion that we all have equality.
As long as the Federal Reserve supply of viagra doesn't run out the markets will be in a permenant state of erection and no one gives a shit enough to call the doctor after 4 hours.
don't worry the ECB, BOJ or BOC will print whatever you need when the FED takes a break.
Off-topic, but nice shooting...
http://www.insideedition.com/headlines/10234-watch-this-homeowner-shoot-...
If you are interested in drones check out this site : http://pickyourdrone.com/
The US traitors let Oil drop to a level to crush new companies in North Dakota USA and line the pockets of XOM and their friends in Iran and the rest of the middle East and they think we are this stupid that we did not see their behvior for what it is.
UPDATE:
The woman is Josephine Witt, 21 years old
@josephine_witt
//////////
https://twitter.com/josephine_witt
I love her!
Back off nazi girl is mein!
Thought she would gain more followers. SHE'S FAMOUS.
Got my supertanker fired up and it's ready to roll so to speak.