RE:OXY Up 10% On NewsIts not a good strategy to bet against Warren Buffett or the US consumer , both have a pretty good track record . This "hair on fire" paranoia that demand is being destroyed isn't giving equal weight to all the data but as myopic as the past 9 weeks have been , one Monday morning in the future , supply and the SPR ending will become the "new" revelation to be afraid of . While the narrative is politically motivated , jawboning the market only works in the paper market , not the physical market .
Right now the market is acting irrational , it makes no sense when inventory and price fall together . The funny part of all this is that talking down the paper market only drives increased demand for products already in short supply . This will all be coming to a head as we close in on winter as I see no relief to restricted supply and increasing demand .
The clock is ticking but instead of a plan , all I see is denial . Stay tuned for further developments .........