Posted by DigiNomad on 20th of Mar 2024 at 01:11 pm
Thanks. Short term top call though...to be clear. Seems
likely to go higher although crude bulls have to worry about the
Biden Admin turning on the SPR bazooka again just like they did
right before the midterms. I think it's too early though and
they're keeping powder dry until the election is closer (vote
buying strategy = don't fire until you see the whites of their
eyes). This chart also suggests higher for the energy patch,
but keep in mind that Trump years were not great for XLE (increased
supply) and it ran with Biden (large constraints on
supply...although it increased on a nominal basis).
Thanks. Short term top call
DiGi Great call on top of crude yesterday.
Posted by DigiNomad on 20th of Mar 2024 at 01:11 pm
Thanks. Short term top call though...to be clear. Seems likely to go higher although crude bulls have to worry about the Biden Admin turning on the SPR bazooka again just like they did right before the midterms. I think it's too early though and they're keeping powder dry until the election is closer (vote buying strategy = don't fire until you see the whites of their eyes). This chart also suggests higher for the energy patch, but keep in mind that Trump years were not great for XLE (increased supply) and it ran with Biden (large constraints on supply...although it increased on a nominal basis).
nice clean chart Digi, thx
Posted by matt on 20th of Mar 2024 at 01:47 pm
nice clean chart Digi, thx for sharing