Brent up another 3% today. Not only did the market over-react on U.S. oil supply issues not a demand based fall in prices that people that only now are some grudgingly admitting but on the downside.
We wait for a peace deal that may not come but the Market Vectors Russian ETF (RSX, quote) continues to move higher as the Ruble is rallying under higher oil and at least the body language of all sides talking towards a positive end game.
“Ride my see saw, take this place on this trip just for me”
Fast forward 1 week and here is the chart today, one week later and 23% higher. Underlying equities have also rallied.
The spot price of crude oil pushed higher in the news of Saudia Arabia King Abdullah’s passing. The bulls are speculating on a shift in Saudia Arabia’s policy of letting crude prices to fall.
Emerging Money Daily Audio Preview Call – December 16 – On the call today we get into what was black Tuesday in Moscow’s turns out to be possibly green Tuesday this afternoon seeing a major reversal in the markets.
Emerging Money Daily Audio Preview Call – Wednesday, December 10 – On the call today we get into emerging market levels where we ticked lower another 1% today well through the October lows and we are
While we were wrong in expecting a 500K cut yesterday as OPEC met to address plunging oil prices and a supply glut that is overwhelming lackluster ( but not negative) demand growth. What we were not wrong in expecting that OPEC would sound coordinated at least on the surface and ready to address the supply […]
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