RE:LockdownsAs for the mutation in the UK, well conversation today was that it is a well known fact that corona viruses mutate and is the main reason why it's practically impossible to create a vaccine against it. It's really a nothing burger however is being leveraged to instill fear over the holidays to get more people/families to self-isolate.
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If in your opinion it is almost impossible to create a vaccine ... then why is this in your opinon a nothing burger..... ? The flu mutates and its a guess most years to decide which one to put out there is this why you are saying a nothing burger? To me this could put a real strain on things for the next month or so ... and we may see downward pressure still.... now we have to deal with the $3 handle wall again... the shorts added above it seems.... I am sure some took advanatge of the margin over 3 as it was there for a bit and ht 3,20 so those thought well we are here to stay.. they then got whacked with a cover call yesterday and today and the shorty shorts are jumping ,,, was thinking we finally had that $3 taken care of but nope... I sold some at 3.18 and got them back but way to early ... GLTA ==============
Anschutz wrote: So looks like the price of WTI has retreated on media stoked fear about a virus mutation in the UK and more lockdowns in North America.
I thought Id' share some info presented today at a closed door meeting. In Canada, it was reaffirmed that the reason for the holiday season lockdowns and extended Christmas vacation for students is not due to escalating deaths, patients in ICU or even COVID cases.
It's a pre-emptive effort because 'the government knows" some families will still get together over the holidays regardless of what restrictions are in place. It's therefore necessary to create fear to try and ensure a significant proportion of families isolate themselves from others. This is why in some provinces we see restrictions being reduced while in others locking down harder. Some provinces believe harsher lockdowns are necessary to increase the proportion of families self-isolating, especially amongst certain ethinic groups with large extended families that frequently congregate in large groups. (You won't hear that last bit from the media as it's been omitted from the government authorized speaking points and carefully crafted media releases.)
As for the mutation in the UK, well conversation today was that it is a well known fact that corona viruses mutate and is the main reason why it's practically impossible to create a vaccine against it. It's really a nothing burger however is being leveraged to instill fear over the holidays to get more people/families to self-isolate.
This fear narrative that the market is reacting to is a short term blip. I expect the narrative to shift positive again in about 10 days.
Cheers and GLTA.