Attention lurkers! We’re trying a little something different with subscriptions this month. We often run promotions for annual memberships, but we’ve never tried anything for those interested in a shorter-term commitment.
Now, through Aug 25, sign up for a one-month, non-renewing subscription and we’ll throw in two additional months for free. It’s about half-off the regular quarterly subscription price. Available for new members only. See details and SIGN UP HERE.
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First, a little Q&A.
Q: How high did oil go yesterday? A: As high as it needed to in order to produce new highs.
It was almost laughable as every time SPX started to lose a little momentum, CL spurted just a little higher. In the end, it spiked 6.7% in less than 12 hours from the overnight lows — the equivalent of 1,250 Dow points!This hasn’t happened since, oh, last week when it shot up 7.6% in 24 hours [see: The Not so Invisible Hands Guiding the Market.]
The question today is whether the “market” will focus on the atrocious economic data just released (big misses in PPI and retail sales), CL’s continuing levitation or USDJPY’s overnight plunge.
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