You know what happens when this happens.
Bob Knights Paper Hands said:
In SPX 4000P. Looking for 3981.7 as a sell target. Stop if we confirm above 3991.4 for more than 1 minute.
he good. oil just spiked a buck$30,000 Millionaire said:
Oil stocks could get going here. Not confirmed
OPEC+ WILL SERIOUSLY CONSIDER NEW CUT AT NEXT MEET: EURASIA
— *Walter Bloomberg (@DeItaone) November 28, 2022
BULLARD: FED WILL HAVE TO PURSUE RATE HIKES INTO 2023
— *Walter Bloomberg (@DeItaone) November 28, 2022
BULLARD: FOMC NEEDS TO GET TO BOTTOM END OF 5%-7% RATE RANGE
GreasenUSA said:
Bullard with hawkish comments.
So far been another day to sit on hands.
Fed speakers telling people what they should already know. More rate hikes and no pivot in the near term.Bob Knights Paper Hands said:
What the hell was that? If that was just a stop raid I'm gonna be pissed.
topher06 said:
I'm holding some puts, but I wouldn't call this a puke yet.
Good post, thanks. Explains why oil ETFs are mostly green at the moment.Farmer @ Johnsongrass, TX said:
O & G players, this post is for you.
https://oilprice.com/Energy/Energy-General/Oil-Stocks-Are-Showing-A-Peculiar-Disconnect-From-Crude-Prices.html
Trying to understand WTI is futile. It's been this way for months. Future's, that show reflect forward markets, down in a worldwide physical supply short market with no surplus production in sight. Just understand that the news flow was needed for Mid-Terms and the stage had to be set for the G7 Price Caps to look robust against Russia. There's no teeth in the Price Cap documents released by U.S. Gov't that I have found/read. Right now, Poland is lobbying for a EU Price Cap at $30 per barrel. Russia will not put up with this and their oil will go the circuitous route before showing up in the market. Russia will cut back. OPEC+ is going to cut. It's all-in deception/subterfuge/masquerade/charade in Futures. Just wait until the Dec 4th press release comes out. (If I were OPEC+ I'd delay the press release until the G7 Price Cap detail is released early or Dec 6th.)