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Thursday, March 28, 2024

Comment by phil

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  1. phil

    Good morning!  

    Asia was up half a point and Europe is up 1/3 and we are up 1/10th.  I still have my /TF shorts (8 at 1,448) and my oil shorts (10 at $48.36) but looking to get both back to 2 asap.  Oh, even on oil would include getting back my loss so about $47.90.  Probably I'd drop to 5 from there with very tight stops over $48, hoping inventories go well.

    Meeting/StJ – I hope all went well.  

    Oil/Latch – As I often say, I don't end up using tight stops myself as I am not always paying attention to Futures.  That doesn't mean it's not a good idea – I simply don't have time to stare at it all day.  So, I play with conviction and was intending to DD up to $49 (to avg $48.75) but I ended up adding on the way below $48.50 for 8 short at $48.36 now (2nd round).

    Apparently, if the Fed tightens today, it will be quite a shock to the investing community but, if they don't, there's only Sept 20th, Nov 1st and Dec 12th left and Dec is too close to XMas (they learned that lesson) which means they pretty much have to hike both of the other meetings and the Fed likes to stay flexible so better to raise today and see what happens in 6 weeks – especially with the market at highs again.

    Non-condsenable/BDC – Well, if you want to be nit-picky about it, the CO2 itself doesn't cause the warming, the water vapor does but the addition of CO2 in the atmosphere increases the density of the water vapor (because it's non-condensable) and that, in turn, causes warming which then causes more water to vaporize which causes a feedback loop that leads to Venus.  Also, Hanj's chart only proves GDP is expanding faster than CO2, which is good but doesn't really help the planet if it's still increasing.

    Image result for venus global warming

    Image result for venus global warming

    Image result for venus global warming

    ESRX/Batman – Still BS'ing about the Anthem contract.  They have offered terms ESRX won't accept and they'll lose them in 2019 (biggest customer) if they don't have a deal by early next year.  The reality is ANTM, who sued ESRX for overbilling (and lost) can't find anyone who will come close to the current prices so they are just being dicks but it's a bad relationship to have with your biggest client.  

    Oil/Latch – Grinning and bearing at the moment ($48.38).

    Indexes popping too.  

    Demand/Malsg – A leap forward in battery tech and oil dies a sudden death.  



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