Different topic- CL
On another forum someone has signed up for tanker tracker and is kind enough to comment. Last week was a big drop in imports as reflected in the EIA surprise number today, however those who follow tanker traffic are seeing a five week high in imports right now to be reflected in next weeks inventory report. At the same time this is the seasonal peak for gasoline inventory. It is supposed to do nothing but drop from now into July. So we are starting to exit the sweet spot for OPEC and moving into the dangerous area. To be a broken record if the speculators lose their nerve and panic it will be bad. As overbought as the equity markets are I am beginning to wonder if this could be a potential Mrs. O'Leary's cow.
{Cultural reference to the milk cow that kicked over a lantern starting the great Chicago fire of 1871}
Divergence update:
BOTTOM PANEL: This is the fifth day that the options traders (1/VIX) and the VIX-futures traders (XIV) have been diverging and saying sell-spy.
HOWEVER, today the 1/options folks printed a higher low, while the futures folks printed a lower low, so whaaaa……. there is divergence in the divergence….. I don’t mean to be cutesy…… I just don’t know how else to say it………
15 min
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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