Monday, February 23, 2015 2:14 PM EDT
Just a little earlier today, Nigeria floated a story about some kind of emergency OPEC meeting, and this rumor sent crude oil (which had been very weak earlier) soaring. I think this rumor has about as much credence as any other Nigerian prince story you’ll get in your inbox, and you should pay it as much respect. I remain blissfully short energy shorts up, down, and sideways. I think the entire oil sector is in horrific trouble, and these kind of manufactured, pathetic rumors will pop up as we continue to crumble downward in the months ahead. Bite me, Nigeria. Crude’s trendline break trumps your little rumors.
This blog is not, and have never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural ...
more
This blog is not, and have never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural observations or other odds and ends strike me as worth writing about. So I take absolutely no responsibility for the losses – or any credit for the gains – you may or may not make from reading this forum. Whether you lose your life savings or make a fortune is entirely up to you and your own skills/luck/fate.
Please note I am the principal of Tim Knight Organization, LLC, a California-registered investment adviser. The content of the postings and investment strategies and discussions provided herein do not necessarily reflect the views, opinions or policies of Tim Knight Organization, LLC and Tim Knight Organization, LLC makes no warranties regarding the accuracy of their content or their completeness.
less
How did you like this article? Let us know so we can better customize your reading experience.