It does seem to be a almost Rythm . The week before the anticipated hike the general market slowly freaks out and has dragged the oil names along with it. Last time Was a 8 to 12 % dip in energy depending on what you owned.
I had sold last Friday , half a position and I had many reasons but one being there has been a pull back and a wonderful opportunity to add everytime to your position.
So , today we got to $120 oil and we hit a 52 week high , and the inflation narrative reared its head. This time the boycott looks to have counter acted the market pull back.
What I don't like about commodity's especially oil , is the things you don't control , and half of this stuff is right out of left field.
Today the Saudi's and Opec are talking about releasing Russia from the Opec Plus pact. The news played it as Saudi , Iraq can increase production ? I said what ? What are you talkin about ? What it was is a huge finger to the NATO bunch amd there master of puppets US of A.
What it is and I see it as , is Russia Can pump all it wants and supply all of China’s , India's demand , as well as all the smaller loyalists to Putin , and the cause.
So Russia supply's the two largest countries by population , the two most massive emerging markets . Add up the rest of us Europe , USA whoever you want. So Saudi will eventually take the embargo business , Russia pumps more oil potentially them ever once they figure out the logostics, and who looks silly ? Or stupid ?
The US is going to be loosing ground ( market share ) in the countries that are keeping them , NATOs economy's pumping.
So Saudis announcement was for the benifit of putin
The other thing is this You make to much money tax. The windfall tax. What are you talking about.
So I show up to the beach on a 100 degree day with cold water , when I know everyone else stopped selling water at the beach because of covid , and because I took the massive chance your going to charge me 25% of my profits ?
Apple as I said before has billions and billions of surplus Cash on hand , they obviously make to much money selling phones , I pads , there technology.
You don't here anyone talk about how hard the oil sector worked , adapted , like Apple , used technology to improve there drilling results , bringing ,down there costs 50 %.
So because they improved there metrics , they make more , they are ( we are - yes fist pump ) making more out of a need to survive. So yes , I am super upset. Did those politicions loose hundred of thousands of dollars on paper or realized when things weren't good.
We deserve to not just make money , we all should be thanked , if we all gave up , ran ......decided to not support the oil - gas sector , th world would be bagging Putin to not cut them off as he rips a country in half taking all he wants.
If we all ran , he would control what he already controls 10 times more. He caught everyone sleeping , and even after he annexed Crimea. He just played his hand , and it wasmt
Until Nordstrom 2 was about to be turned on everyone woke up , and it was to late.
The photo op at the Olympics with Putin
and China’s boss man , is the most smug photo of a F and U you will ever find. Go and look at that picture , and think about what is happening in the world right now. Then look at there faces in that photo.
Yes you got it.
Rant over and out
Craig