Will We Hold It Wednesday – $100 Oil Edition
by phil - April 30th, 2014 7:35 am
Wheeeeeeee! Down goes oil!
That's $5,000 per contract in your pocket if you followed our lead on Wednesday, the 16th, when my comment right in the morning post (which you can have delivered to you pre-market, every day by clicking here) was:
In yesterday's post, I reminded you we were shorting oil at $104 and we caught a $500 per contract move back to $103.50 but then (also live in the Webcast), we decided to wait for $105ish to re-short today (/CL Futures). This morning, I posted early (6:22) to our Members that we had our shorting opportunity at $104.95 and already (8:06) we're back to $104.65 and that's good for $300 per contract after a hard morning's work – plenty of money for breakfast!
We're still expecting a much bigger drop, probably not until after the weekend though, as Ukraine tensions are keeping oil high. Rather than play the volatile Futures over the weekend, we have SCO and USO plays set up for our Members to take advantage of the potential correction. Today though, we can still have fun with the Futures (stop at $104.75 at the moment) into inventories at 10:30.
As you can see from the Futures chart above, we hit it right on the nose and caught a fantastic drop right away but, of course, we've stuck to our guns on those short positions and, just yesterday, in our Live Weekly Webinar, we discussed the merits of leaving our SCO position on the table to take advantage of a further fall in crude.
If not for the continuing nonsense in the Ukraine, oil would be much lower at the moment as we print record US inventory storage today (10:30 is the official report) without near-record supply and nowhere near record demand.
In fact, if the crooks at the US energy cartel weren't EXPORTING 1.7 MILLION BARRELS PER DAY out of the country to create an artificial shortage, we'd be piling on an additional 12M barrels a week or 618M barrels this year alone. In other words, the criminal organizations (allegedly) that control the energy trading in America are sending the equivalent of the entire Strategic Petroleum Reserve out of the country each year…
“The New Bubble Is In Stimulants…..” Rosenberg
by ilene - November 5th, 2009 8:29 pm
"The New Bubble Is In Stimulants….." Rosenberg
Courtesy of Jan-Martin Feddersen at Immobilienblasen
I want to add that the bubble is also in outright & hidden bailouts…..Nothing really new but hours/days away from the next mega bailout ( FHA ) a sober summary how wasteful the resources are "squandered"..…..
H/T Gary Varvel
So the U.S. economy is growing again. But how can it not be growing with all the dramatic stimulus? The question should be “why only 3.5%”?
> If you can stand more details you can read "A Sham GDP For A Sham Economy"……
> Für einen teiferen Einblick was die USA veranstalten müssen um überhaupt ein positives GDP Ergebnis auf die Beine zu stellen kann das in "A Sham GDP For A Sham Economy"…… nachlesen….
Now the U.S. government is going to not just extend but indeed expand the tax credits for homeownership. This is happening at a time when the fiscal deficit is 10% of GDP. Simply amazing. The sector already receives more in the way of government support than any other area, and it adds zero to the capital stock or productivity growth. Oh, but it makes us better citizens. Renting must be for losers.
And then we see that the Fed’s TALF (Term Asset-Backed Securities Loan Facility) program that began in March just broke the $90 billion mark. This has basically supported 75% of the growth in the asset-backed market, almost evenly split between auto credit and credit cards because at over a 130% household liability-to-disposable income ratio, the government seems to believe we don’t have enough debt on our balance sheets. Honestly — you can’t make this stuff up.
But here is the real kicker. The Federal Housing Authority (FHA). If you’re wondering how it is that the U.S. housing market has managed to rise from the ashes, well, consider that the government-insured FHA program moved into high gear this year and has basically filled the gap vacated by the private sector. (where default rates are really becoming a problem) should not go unnoticed (and they weren’t by the staff at the WSJ that uncovered the growing problems in yesterday’s edition — FHA Digging Out After Loans Sour on page A2).
The efforts to allow practically anyone to secure a mortgage not just