Market Remains In A "Feeding Frenzy For Upside"; Goldman Partner Warns Price Action "Has A Whiff Of 2000"

While we were all worrying about running out of oil inventories, Goldman Sachs partner, Rich Privorotsky, warns that perhaps we should have been more acutely concerned with running out of DRAM. 

Running Out

Sure, oil futures are up around 4% overnight after Iran submitted a response to the US peace proposal that appears to leave major gaps and was deemed “unacceptable” by Trump.