Courtesy of Read the Ticker.
Nope it is not interest rates, nope it is not Donald Trump, it is!
It is the CRUDE OIL crash, simple!
Jim Willie has good comments in the first 40 min of this pod cast.
Energy company …
– Debt is blowing up (See energy element of HYG).
– Hedging at oil $100 is coming to an end.
– Iran coming back to the market, more supply.
– Saudi still providing massive supply.
– Oil tankers holding oil parked in the ocean are coming in to harbor to unload
– US dollar strength supports lower oil prices
– World wide DEMAND slump for energy or deflation.
– More oil being sold outside the US Dollar
– The Oil futures can not be manipulated easily as folks actually request and get delivery
Yip….BOOM!
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And the Crude oil Channel break out south is near!
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Investing Quote…
“Stock market technique is not an exact science. Stock (and commodities) prices are made by the minds of men (and women). Mechanical trading methods or mathematical formulas cannot compete with good human market judgment.”..
Richard D Wyckoff
My experience has been that in successful businesses and fund management companies, which performed well over the long-term, some courageous decisions were taken. Courageous fund managers reduce their positions when markets become frothy and accumulate equities when economic and social conditions are dire. They avoid the most popular sectors, which are therefore over-valued, and invest in neglected sectors because being neglected by investors they are by definition inexpensive. The point is that it is very hard and that it takes a lot of courage for a fund manager to avoid the most popular sectors and stocks and to invest in unloved assets. Finally, every investor understands the principle ‘buy low and sell high’, but when prices are low nobody wants to buy.
Marc Faber
..”Money couldn’t buy friends, but you got a better class of enemy”..
Spike Milligan
..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..
Bernard Baruch
..“Investing should be like watching paint dry or watching grass grow. If you want excitement…go to Las Vegas.”…
Paul Samuelson
