Oil has plummeted over the last week from the $40’s into the mid $30’s and down from a high of $148 per barrel. Percentage wise this is an extremely quick drop and showing some major short term oversold signals.
Senor Tropicana and Jake gint had a brief exchange about UCO and DXO, both double long crude etfs. Here is the ratio chart of them, which shows Proshares, the sponsor of UCO, up to their diabolical tricks.
On the other hand, DXO is guaranteed by Deutsche Bank, right? That’s what is baffling. You would think you [...]
The Fed has always been the “Lender of Last Resort” to commercial banks needing emergency financing. They began providing this service to Wall Street firms this year as well. They even expanded their influence to become the “Buyer of Last Resort” when they opened their term lending facility and allowed firms to drop [...]
(Yeah I know you think I took that pic from GreenWriter, but I found it and had this post saved as a draft beforehand).
I bet some of you think I’m talking about oil running out and going to $1000. Nope, I’m talking about the death of high prices. Oil bubble is going [...]
