Crucial Crude Crack
I am in the final throes of trading/blogging with one arm tied behind my back. I’ll be back from my travels very late tonight. In the meantime, a quick chart that shows that WONDERFUL failure of crude oil, which is doing all kinds of good things for the energy shorts I entered this morning before the report came out. Huzzah!
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The gasoline glut isn't the only issue. Worries about China's SPR filling up plus the US driving season ending could make things real difficult in Q3. We had the real nice pullback today, but my guess is we have not seen the last of volatility. We have a much better Q4 but one may want to take some profits here and look to load up in a couple of months.