Crude is retracing, actualy a good thing.

Jack and SPXOptionsTrader are two peas in the same NPD-pod -- Pea1 and Pea2 -- each pea doing his best to out-NPD to other pea.

 

Remember marketsurfer? He was a snake oil salesman par excellence. Eventually he was kicked off ET

 

I recall Mr. Surf. Last I remember he was not kicked off. He bowed out.

 

Your reply was nuanced. It is like leave or be kicked out. One day he is offered babes courtesy of timothy sykes. Next he makes an exit, Braggarts and snake oil salesman don't just depart voluntarily.

 

I do not recall this exactly. I do think I remember when it happened...It was in 2017. and I think I remember @Baron stating that Mr. Surf left on his own terms? *shrugs* Good times.

 

More important than posting 3 pages of what Jack did or did not say...what was behind the move in crude oil today? Inventory numbers come out on Wednesday. What moved it today?

 

That is how departures are handled in a diplomatic manner.

 

IMHO, it is the idea that China is still maintaining a higher lockdown rate than previously mentioned, so less demand.

 

I'm long SCO for swing, daytraded the big run up yesterday. SCO is the short crude oil ETF.

Like KOLD/short nat gas, it has come down significantly on 1year chart and may go up more from here. One of my top long picks if it keeps climbing

 

Maybe, I am in the minority but, oil prices going down does not make even any sense. This might be a temporary aberration. Russian oil although, boycotted by a large number of countries are still being bought at huge quantities and huge discounts by China and India. Two huge oil consuming countries. The narrative by hacks on cable tv is Chinese demand will go down with the Covid lockdowns. China has huge oil strategic reserves even larger than the US. So, the Chinese will stop buying Russian oil instead, of buying it and storing it in huge quantities in their large storage tanks? What about India? Now, with Russian oil being shunned by the US and Europe, the market price of oil should remain high. Most of it would be oil from OPEC and OPEC just raised its oil prices for Asian customers by $2 a barrel. What is to stop OPEC from raising it by $5 a barrel or even $10 a barrel knowing full well that Russian oil would in effect be removed from the world's oil market? Oil is highly, inflationary and used in pretty much everything including, manufacturing goods. Let us see how long this bogus oil manipulation lasts. I seriously, doubt it will.