Impressive call VZ. I understand a long for a bounce there, but predicting with conviction we would end the day in green at that exact moment makes it clear to me there is a lot I can and should learn.
Mohamad el Erian had an article on cnbc ( i've read many in the last 2 weeks) how the disconnect in the stock mkt vs the economy could cause social unrest . Headlines " The biggest stock mkt month in 45 yrs " vs " 32 million file for unemployment worse that than the great depression". Its brought to the forefront the rich never suffer as the masses are going to hurting . Its in all's interest to make sure the rich suffer like the masses this time . To be honest the mkt should be at 1800 max right now .
Commodities are pretty much events driven. There are upside and downside risks. In absence of crazy events, I don't think we are over supply at the moment.
Of course. Recent event has been OPEC (or GLOPEC) has reduced production. Market is hoping this will relieve pressure on inventory levels. Absolutely. Upside: inventory levels start to go down Downside: no more inventory space remaining...crude production must stop Trump hasn't played his "cards" yet. He is waiting for the right moment. See attached.
That one is going to require a little elaboration. On what are you basing this? I'm not saying you're wrong, I'm just asking.
I think @Noone123 might be referring to the weekly EIA report per below chart. As you can see, last week's inventory came in far below the forecast number:
You have to understand.... after 30+ years, its all psychology. I wish I could explain it but I can't. It encompasses a gillion things.