What a night for news! The three big items that leap out at me as I blearily start the day…….
- That the 28-year old co-pilot of the Germanwings flight was the one who did the deed. Good. God. In a way, I’m relieved it wasn’t a terrorist attack or a mechanical failure, but that didn’t save any of the poor souls on board. I’ve always thought that dying in a plane crash would be an especially horrific and terrifying-beyond-belief way to die. For this man to subject nearly 200 people to this………..words fail me.
- The mega-surge, then just plain surge, in crude oil – I’ve got a smallish-mediumish size short in crude oil, but more importantly, I’ve got a smattering of energy shorts, so oil’s Yemen-based ascent is going to definitely tax some of my otherwise good profits this morning. The only silver lining for me is that, in CNBC style, I can say that oil is “well off the highs”, since it’s up less than half as much as it was earlier in the session.
- The liftoff in gold and silver: like I’ve said many times, I actually do want precious metals to perform spectacularly (for a variety of reasons), but at the moment, I’m short silver, gold, and miners – – so, again, that’s going to take a bite out of what would otherwise be what’s looking like a pretty good day on the short side.
Well, that’s it. Time to get this party started.