Goldman: OPEC Should Not Extend Production Cuts
On Sunday, OPEC and non-OPEC producers got together and discussed some things.
Specifically, how the supply cuts are going (i.e. who's cheating and who's not and by how much) and whether it makes sense to extend those cuts given the fact that soaring US production and record US stockpiles have created a decidedly bearish fundamental backdrop. For those who missed it, you can read everything you need to know about the meeting here.
Well, as regular readers are aware, Wall Street is pretty wedd
SPX=$2200….GS=?…..$100…..GLD= ……..$2000? thanks
When someone offers “free gambling money” addicted (most) companies will take it (duh). Remember what your dad used to say “if someone offer you $$$ take it fool”. Whose $$$ is it these pigs at the trough are offering anyway, just a hint (TOOO BIG TO FAIL). Just keep those junkies addicted and the “status quo” continues, until it DOESN’T. Warning: “Ditch Approaching”. Remember you all can’t exit at the same time, it’s a small door about to get smaller.
What could possibly go wrong:1/less fuel needed 2/record high inventories 3/greed 4/cheating on pull-back 5/greed 6/cheap $$$ (to keep already dead companies alive) 7/more greed 8/more pipelines 9/full retard. “Looks good mom/pop investor, big yield, you’ll make a fortune, it’s an oil field”. Give me you $$$$. As dad use to say………….. Stay nimble folks.