Energy Investing - It's Really Hard Not to get EXCITED - Energy Investing - InvestorVillage

This is a semi-private group. You are free to browse messages, but you must be a member of this group to post messages. Join This Group

Group: Energy Investing   /  Message Board  /  Read Message


Rec'd By
Authored By
Minimum Recs
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  441351 of 451586  at  8/15/2022 10:49:23 AM  by


It's Really Hard Not to get EXCITED

I've been waiting for this for a long time. We have spent the past two months suffering from the worry that demand for oil will crater, bringing oil prices down with it. 
Today is the culmination of all these fears reaching a "hard point" in time. Today marks the low for oil. The action right now confirms this opinion in my mind. Consider:
China fears headline this morning. This is countered by facts on the ground that China is relaxing (albeit slowly) their COVID lockdowns. Shanghai quarantine period is currently down to 3 days - from one week only a week or two ago, and two weeks quarantine mandatory only a month ago. It's a big change for travelers to Shanghai, and will certainly be completely eliminated in another week or so. This is being done with the approval China's central gov't. I believe China's oil demand has bottomed. 
SPR releases end is in sight.
Europe is rapidly moving to a "burn oil" for power generation policy. Switzerland announced this policy today, following earlier moves by Germany, France and others.
Iran deal is close. So what? Won't make a diddly squat difference to supply (although the uninformed still think it will).
Bottom line is that every piece of bad headline news I've been waiting for hit this morning - all at the exact same time. Oil responded with a major drop as expected, but I can see the strong hands are already buying this "sell the rumor, buy the news" event.
The days not over, but I've been buying. 
Can you tell I'm excited??? 

     e-mail to a friend      printer-friendly     add to library      
Recs: 51  
   Views: 0 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board

Msg # Subject Author Recs Date Posted
441359 Re: It's Really Hard Not to get EXCITED gasisthefuture 15 8/15/2022 11:05:42 AM

Financial Market Data provided by