Oct. 23 at 11:06 AM
$WTI
Too many cross currents to list, but here’s a couple:
* The IEA admits they lost count of a couple million barrels — of course those barrels were on the surplus side. The glut narrative, brought to you by the liberal press at Bloomberg, and the liberals that permeate our government reporting agencies, is slipping. (There’s no GD way Trumps’s economy will start percolating) Even the academics are starting to question their sanity after their predictions of doom from the Trump tariffs.
* Why did TK buy? Only TK knows. But it’s wasn’t to lose money. I think we can all agree on that. (Holy grail? Or macro growth beliefs, de regulation, or was it to irritate the duck)
* Russia being squeezed by sanctions to the point of “boarding vessels.” If that doesn’t get your attention, nothing will. Crude up 4% today.
* Bullying India to buy from USA — you gotta kick a child in the ass sometimes.
*last but not least, look at the long-term chart and ask yourself, should I buy?

