OPEC: Vexing in Vienna

We’ve had a constant barrage of optimistic OPEC press releases over the past two weeks.  This week, the actual news is anything but optimistic.  And, CL is showing it. It’s not over till it’s over.  But, equities are looking more than a little nervous.  We remain short from yesterday. continued for members… … continue reading →

Analogs and Headfakes

One great thing about analogs is how they provide a backdrop of reasonableness for the strange goings-on in the “markets.”  Consider oil’s dump on Friday, and follow through yesterday, on — surprise! — news that the Vienna OPEC deal might be in trouble. Recall that this was the same deal countless players were touting as almost … continue reading →

Happy Thanksgiving

Here’s wishing all of our readers a safe and enjoyable Thanksgiving holiday. Chalk today up as capitulation, holiday style.  Having gotten DJI up over 19,000 and SPX up over 2,000, CL has backed off its rumor-driven, equity driving rally.  It faces another inventory report this morning, this one from EIA. USDJPY is rallying to compensate — … continue reading →

Making Sense

The past few years have entailed many instances of markets “not making sense.”  The latest iteration I hear about a lot is stocks’ continued rise in the face of a Fed hike, a bond meltdown, political uncertainty and an EM currency crisis. It’s important to understand that it has been years since stocks traded mostly … continue reading →