Counting On Crude
Tim Knight | Jun 15, 2016 02:13AM ET
Friday, Monday, Tuesday – all great days. I must be dreaming! As of last Wednesday, I was ready to jump off the nearest bridge, since the market just kept pushing higher, irrespective of news or any kind of information. How quickly things change.
Wednesday is a big deal, of course, since it’s one of the four “big” FOMC meetings. My most fervent wish (as you listening, God?) is for Yellen to do her thing, and the market (after its usual spasm) starts falling hard, realizing that the old coot is, at the end, powerless to hold back reality in perpetuity. That day, of course, will eventually come, but I’m sick of waiting for “eventually”. We need that “Emperor Has No Clothes” moment, even if it is a century-old dwarf she-male who wasn’t even physically attractive in her twenties.
Crude oil has been particularly helpful to me lately, and the next goal is to get beneath 47.26 (that red horizontal line).
Since I’m so gung-ho on energy shorts again, I’ll share with you two lists: the one on the left is my list of energy stocks I’d like to short, but I’ll almost certainly wait until Anti-Christ is well past her announcement. The list of the right are my current shorts, and, God willing, they’ll stay intact.
Best of luck to everyone, tomorrow (well, not everyone; just the bears). I’ll be thrilled once we get FOMC out of the way, so then we can get all tense and worried about the Brexit vote next Thursday. No rest for the wicked.
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