MASSIVE MARKET TURN-AROUND!
From Greg M
Lions and friends…
The market just flipped, erasing a 500 point drop to being positive over 400 on the DOW..
Epic….
GM
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'Cause somebody with a lot of capital had a vested interest (long futures/options) to trigger a short covering rally. This is not about economics. This is about trading.
It's the Saudis buying in after dissing the US and Western Nations with output cuts. Ironically,
as Texas says they are and will be energy independent, the real word is that the Saudis own our
very US based refineries. So much for independence of the US in terms of energy refining capacity
right here in the old US etc. What does the US actually own right here in the US in terms of any
infrastructure anymore?