Oil $1 a barrel

[OldLady]

The Dow is down another 628 points at 9:30 Am, AZ time. Watching a freefall is so mesmerizing..... BUT, Donald is going to fix everything by banning immigration!

lol It's distracting the base. They're celebrating big time!

 

[OldLady]

The Dow is down another 628 points at 9:30 Am, AZ time. Watching a freefall is so mesmerizing..... BUT, Donald is going to fix everything by banning immigration!

It will come back. Donald did the prudent thing

Yeah, everyone is getting the Covid count shoved in their face instead of the stock market willies. I hadn't checked it in probably a month and it's gone up thousands of points since the last time I saw it. It WILL be okay. I know of an old barn they can use to store those barrels--for a price. Free market, like the $150 face masks now selling on line? lol

 

[Manonthestreet]

Anyone mention Trump has elected to top off the SPR to the tune of 75 million barrels.

 

[Toro]

So I learned today that the source of the -$40 oil was a Chinese ETF.

I understand that the Internet was saying it was the USO. It was not. The USO does not rebalance the day before expiry. It rebalances in the middle of the expiry dates exactly to avoid something like this.

But there is a Chinese oil ETF that rebalances the day before expiry.

Fucking Chinese. First COVID-19, now this.

Not exactly covering yourselves in glory, China!

 

[Toro]

The Dow is down another 628 points at 9:30 Am, AZ time. Watching a freefall is so mesmerizing..... BUT, Donald is going to fix everything by banning immigration!

Today is an example of how information can distort markets.

The media was reporting that -$40 oil was a sign of disinflation. I can tell you as a fact that the Wall Street trading desks were getting calls from investors asking about disinflation. Disinflation is bad for stocks. So stocks went down a whole bunch today.

 

[Correll]

Anyone mention Trump has elected to top off the SPR to the tune of 75 million barrels.

Best time ever to do that.