Escalating crisis at Credit Suisse triggers fresh fears I said that we were at the crossroads of $69 Oil yesterday and I'm glad that I said if anyone is thinking of buying shares yesterday that if the worse happens today just average down but shares bought yesterday will be worth more in the near term but seeing how a day makes a difference has Oil looking for new support but this is all fear driven because everything happening is fixable in my eyes, the US is resilient we know this through history and they're not afraid of raising the Debt Level printing more cash in helping its own plus Europe will follow money will find its way into the system because if there's one thing these countries have learned is to put out the fire before it spreads any further in times like this. They can always drop Intrest Rates temporarily till the market regains confidence and now would be a great time for Biden to cancel Apr SPR dump and start refilling it during this crisis Biden doesn't always do what's right but remember those headlines I posted the other day Biden supports $67 Oil and Biden will start refilling SPR around $70 so don't fear today as a longterm deal Oil will dig itself out of these lows and when it turns it'll take just a couple of days to be back over $70 when fear subsides and Oil this cheap could have countries stockpiling it so demand could increase at these prices plus If Oil falls too low OPEC is another insurance and for all we know today could be the climax before Governments do what they're paid to do and protect the economy this type of shock needs to cycle through a few days as counties deal with fresh concerns and I certainly do not see this crushing the US or Europe and even though China is off to a slow start it is gaining strength every day this we know. I thought buying yesterday was a deal but this firesale is making today a score till Oil finds support and you only lose money when you sell because all Oil Plays will recover with $80 Oil in a couple of months so sit tight if you're long but for me, I'm building a war chest of Oil Plays today not even trading just buying at the low you can see this huge accumulation under current House Position just look for the Houses heavily weighted on the buy side. The sky isn't falling economies constantly weed out the weak so once these failures are flushed down the tubes then the economy builds stronger Financial Institutions sometimes buying the weak for pennies on the dollar is brilliant and pays off so you can bet that these days all companies are in the boardroom strategizing on taking advantage of this failure. Sit on your hands if you're considering on selling when the future holds promise. The worse is Oil hits $65 but it's not going to be there for long this is just a one-day deal breaking below $70 so far and it's too bad that you can't freeze stocks when the world hits the fan because this will be short-lived so if stock finish as high as possible would be best because today doesn't dictate the companies future so a couple of days are rough plus all Oil companies are flush with cash so pushing SP below companies Total Asset Value is ridiculous for one day. I've traded through 7 Market Crashes and I feel that this will not be another! So take advantage moderately. US Traders are just flexing muscle and at some point today or tomorrow, they'll realize that enough is enough. Don't kill Oil Plays! support them.
10 stock market crashes from history, explained – Chicago Tribune Escalating crisis at Credit Suisse triggers fresh fears for European banks (telegraph.co.uk)