As the entire planet sinks into a depression, while all the time thinking new lifetime highs are just around the corner, crude oil is going to lead theway. Indeed, it’s the smartest asset around. I’ve never understood the “Doc Copper” business. Ridiculous. Energy is where it’s at. And where it’s at is down.
The head-and-shoulders top above was beautiful, which is why energy is the most over-represented sector for me. Looking at the bigger picture, you can see much lower prices to come. The sad part is that the nitwits in D.C. will take credit for it falling.
At the same time, equities exploded higher in an enormous reversal off the drop last night, only to have sense and reason walk up to all the bulls with a giant stock filled with donkey manure and slap them across the face with it. It may well be the same tomorrow. Whatever the CPI is, maybe there will be some zany relief rally, and then it’ll dawn on people that doom is nigh, and they’ll run screeching again.
But if you’re not into any of that stuff, you can always follow former billionaires who have generated10-figure losses for their companies by leading it into an apocalyptical crypto-fantasy.
