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Earlier this year, I was a big fan of energy shorts. Simply stated, the trades rarely worked, and a couple of months ago, I pretty much threw my arms up at the whole sector. I’ve got to say, looking at the continuous contract of crude oil, the massive top might never complete. It got close, but no cigar.
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Let me state two things at the outset: one, I’ve never been a David Portnoy fan (for a variety of reasons), but I’m definitely on his side with this incident, and two, I’ve certainly messed up as a small (very small!) business owner myself when I’ve said or written something out of emotion. The difference for me is that I usually realize it about three seconds later and try hard to make amends and restore the peace.
Perhaps you’ve heard about this little kerfuffle…….
There is virtually nothing going on with the economic data front until September 13th, when the all-important CPI gets released.
