Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
Oil crash poses severe test for OPEC+ after Moscow, Riyadh miscalculate
Trump announced that he has word from Russia and Saudi Arabia that they will make large cuts in production. Maybe, maybe not -- he's made pronouncements in the past. But oil stocks predictably jumped up: Chevron up 11% today, Exxon 8.4%.
If I were a suspicious person, I'd wonder who might have known what he would say. Of course, he knew. David
"If I were a suspicious person, I'd wonder who might have known what he would say."
I wouldn't worry about any trading on inside info. If there was any of that Jared Kushner will surely find the bad guys and take appropriate action. He's kinda at loose ends right now anyway, having finished bringing peace to the Mideast and then solving the corona virus problem. Good man, that.
Can someone please explain to me how oil goes up 14.5% and my FSENX drops almost 2%? How the heck am I diversifying my risk away ??? Might as well sell, take tax loss and buy USO.
@VF - it's the exact opposite of what happens when the cost of a gallon of gas goes up when the price of oil goes down. "It just magically makes no sense." You have to keep those rich folks richer so they can trickle down on you.
Comments
If I were a suspicious person, I'd wonder who might have known what he would say.
Of course, he knew.
David
I wouldn't worry about any trading on inside info. If there was any of that Jared Kushner will surely find the bad guys and take appropriate action. He's kinda at loose ends right now anyway, having finished bringing peace to the Mideast and then solving the corona virus problem. Good man, that.