Old MacDonald had an oil farm, E-I-A, E-I-A, Oh!
With a stop run here and a stop run there,
here a stop, there a stop, everywhere a retail stop, E-I-A, E-I-A, Oh!
Wednesdays are Prince Spaghetti Day. They are also when the US Energy Information Administration releases its weekly petroleum status and crude oil inventories (except during holiday weeks). Check out the last 3 EIA news scam days.
Although we keep adding record builds to record inventory levels, once grease clears above the NY open, look out above. The U-turn took a little longer today than the EIA event days in the prior 2 weeks – oil must be very bearish;)
No guarantees, but any guesses as to what typically happens the following day???
Originally posted at www.twitter.com/TradeFlightPlan