Comment-cleaner time, and something to get off my chest……..
The “logic” of the market these days seems to be along these lines:
- If the price of crude oil is going up………..
- Then that must mean demand is strengthening………..
- Which implies that the economy as a whole is strengthening…………
- Which means that companies will have more earnings………..
- Which will lead to higher stock prices, so I better buy stocks RIGHT NOW
Ahem. Folks: the reason crude oil is going up is because there’s chatter from producing countries about artificially holding down the supply. That’s it. End of story.
So my request of the people of earth is: please stop being morons.
Thank you.
P.S. I came into the day really short and have only been aggressively adding to my shorts.