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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: bull_dozer who wrote (155961)	4/4/2020 4:51:26 PM
From: bull_dozer	Read Replies (1) \| Respond to of 218701

Trump Says ‘Toughest Week’ Ahead, ‘Lots of Death’: Virus Update bloomberg.com

To: bull_dozer who wrote (155961)

4/5/2020 1:36:46 AM

From: sense

Respond to of 218701

U.S. has already throttled back by 18% this year ?

American's have already responded due to the free market forces, and haven't been sitting around waiting for OPEC or the government to tell them what to do about the problem driven by demand destruction ?

U.S. should attend the meeting and insist that all others meet or exceed what the U.S. has already done in throttling back... and if they don't ? Trump has mentioned a couple of times that he has "other things he could do"... but doesn't want to ? Odd, to me, that no one in the market or the media wants to talk about "other things Trump could do"... or what the impact on others would be ?

Should make for an interesting week trading oil and oil related issues... many of which have the double whammy of a stock market crash AND the collapse of oil prices already priced in.

U.S. Baker Hughes Total Rig Count Latest Release

Apr 03, 2020 Actual 664 Previous 728
Source: Baker Hughes

U.S. Baker Hughes Total Rig Count

Release Date Time Actual Forecast Previous

Apr 10, 2020	13:00		664
Apr 03, 2020	13:00	664	728
Mar 27, 2020	13:00	728	772
Mar 20, 2020	13:00	772	792
Mar 13, 2020	13:00	792	793
Mar 06, 2020	14:00	793	790
Feb 28, 2020	14:00	790	791
Feb 21, 2020	14:00	791	790
Feb 14, 2020	14:00	790	790
Feb 07, 2020	14:00	790	790
Jan 31, 2020	14:00	790	794
Jan 24, 2020	14:00	794	796
Jan 17, 2020	14:00	796	781
Jan 10, 2020	14:00	781	796
Jan 03, 2020	14:00	796	805
Dec 27, 2019	14:00	805	813

To: bull_dozer who wrote (155961)	4/5/2020 11:35:37 PM
From: sense	Read Replies (2) \| Respond to of 218701

Pre-market futures opening seems to be responding to the Sunday daily coronavirus briefing... with the focus squarely on the major averages, things are popping in response to "glimmers of hope"... Futures Surge As Trump Touts "Glimmers Of Hope" In Italy & New York Oil was down only 10% at the open... while the market seems to be intent on ignoring what Trump said about oil in the same briefing... where he spent a good bit of time on it. Right now WTI is trading down only 4% while Brent is down only 2%... The gist of what Trump said was... if they don't get their act together... tariffs are coming. He wasn't coy about it at all... while still revealing only that one element of potential action... leaving others "for later". He was clear enough that he WILL act to protect the U.S. oil industry from being damaged... by others (my words) recklessly uneconomic actions. Worth watching... as the nature of the impact on oil positions is highly dependent on location... Tariffs imposed on oil imports to the U.S. will send WTI spot prices screaming higher... but the same act will drive the rest of the world's oil prices farther down in value... amplifying the surplus that isn't being addressed adequately already... In futures and options markets ? The contango is likely to grow worse as production continues to outpace demand, driving global spot prices lower. The U.S. has already dropped the rig rate by 18% since January... still leaving current production swelling, even while future production is already dropping due to the 18% cut ensuring fewer new wells and fewer new well completions in the not so distant future... Options and futures might be a smarter way to play the resulting massive disconnects in the market ?