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What The Hell Is Going On? - Part 3

"I’ve tried my best to seek truth, reveal government deception, and generally be a thorn in the side of the establishment. Based on Mencken’s definition, I’m a dangerous man to the government, who has spread discontent among those capable of thinking things out for themselves. You may not realize it, but the war has already begun. No matter what the hell is going on, I sure hope the good guys win."

Frontrunning: March 9

  • Investors Await ECB for Clues on Path of Policy (WSJ)
  • U.S. crude slumps below $50 after stocks build (Reuters)
  • Markets Are Selling Off as Dollar, Euro Gain (BBG)
  • Opposition Mounts as GOP’s Health Bill Undergoes Review (WSJ)
  • Ryan Ready to Twist Arms to Sell Health Plan to House GOP (BBG)
  • Gutting Dodd-Frank Is Hard, So Republicans Turn to Easier Things (BBG)

Crude Plunges Below $49, Dragging Markets Lower; All Eyes On Draghi

While trader attention will soon be focused on the ECB and any potential tightening hints from the central bank, a more pressing development as US traders walk in today, will be ongoing collapse in WTI, which after crashing 5.5% yesterday, has tumbled more than 2% this morning, sliding not only below $50 for the first time since December 1, but also dropped under $49, as a near record number of net long spec positions suddenly rushes to unwind their exposure.