RE:crude supplies rose by 3.5 million barrelsguyf1063
this build number plus the big drawdown on gasoline and distillate was a bullish number.
it means demand is still good for gasoline even during a slower demand period.
I was afraid of the api 7 million plus number so it was reflief to see this lower build plus drawdown on gasoline.
watch the drill rig data on friday, huge drop.
many are now predicting some big bankruptcies in the US shale E&P's really means someone buigger and better financed will end up buying the shale properties but and a big but, if the shale properties are no even close to sweet spots ithen prices will be low and banks or bond holders will take a hit.
I wouldn't touch financials right now but I'm starting to buy gold just in case we get more pain on bank stocks.
look at a mid-teir gold, silver and copper producers YRI, it has a dividend even and currently yields 5% and they will improve production and lower costs in 2016, so more earnings and maybe even more dividends as well.
just starting to look at YRI, you should always a little gold in your portfolio.
again MEG will move with oil ansd that means it will, be volatile, just like oil but I to am geting the sense it might be time to close my puts and take my profit before MEG gets back over 5 and 6 and I lose my put options profits.
it's not wise to be greedy up or down.
GLTA