Baytex Energy Corp T.BTE

Recession and Global Banking Crises Trumps Oil Demand

[smallcaptdr]

June 2008 Oil was at $140 and by Jan 2009 Oil hit $40 so if you do not think a global banking crisis won't push Oil lower than $60 think again! I'm telling you just 1 bank failure will push Oil towards $50 in no time at all this is my worry as I have traded through 7 market crashes this is Deja Vu all over again days where the DOW sold off over 1000pnts I loaded up on Ford shares for $1 held them till $16 so there's money to be made on every crash but if you're locked into holding shares when it happens could be costly and I'm going to avoid holding shares if all possible its better to jump in and out by days end with cash because who knows what will transpire overseas or here for that matter. Regardless of demand, Recession and Financial Crises rule all when it comes to Oil. I was right about not noticing Russia's production cuts because the cuts were taken from a much larger number so nothing has changed but they're trying to fool us all while they score off of China's demand and if you look at the Oil chart Oil is on the same trajectory as 2009 starting from $120 in June to $69 presently. There's no guarantee any longer of Oil hitting $90+ not with what's going on it could change to the downside in a flash. Keep your powder dry.



Deutsche Bank, UBS stocks sink as fear of European banking crisis returns | CNN Business

10 stock market crashes from history, explained – Chicago Tribune