I’ve been clear, I hope, with my bearishness on crude oil, and things are really starting to kick in.
The longer-term futures chart shows a gargantuan top. Simply stated, the world economy is headed for the dumper, and crude oil is comically overvalued.
I have maintained my SLB and COP put positions, which have grown into my largest positions by virtue of their surging values. Yay!
In celebration, here’s one of my favorite Prokofiev pieces.
