Oil Salesmen

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Accomplished traders know that the news has little to offer other than occasional context, and mostly entertainment value. This chart is our latest installment in the category of you-just-can't-make-this-stuff-up.


Look at the two articles published by Bloomberg recently. Then, compare the dates the articles were published to a daily chart of WTI futures.  Oil was getting ready to launch for the moon. The orange arrows point out the specific days that Goldman and Barclays issued their bullish reports. Sure, the odds are pretty good that the light, sweet, and sometimes crude stuff will hit $100 this year. But for now, all we have is entertainment value.

For your reading enjoyment, here are links to the full articles:

Brent at Nine-Month High on Chicago; Goldman Sees Tight Supply - Goldman Sachs

Oil May Head to $100 With Two-Year Support - Barclays

Apple's Quarter Was Lousy, But Stock Still Headed To $1,000 – Forbes (sorry,couldn't resist)

Originally published at Trade Flight Plan.