Nauman Barakat
Nauman Barakat
break close difficult fear number step
The fear is as we get close to $50, OPEC may step in. $50 is a number that will be difficult to break on the downside,
below days degrees gets last mild month normal november rest
It gets cold. Winters are cold, it's not a surprise. We had such a mild November we'd need it to be 15 to 18 degrees below normal for the rest of the month to get the degree days we had last year, and that's not going to happen.
bank market money prudent time
The market has been up so sharply, it would be a prudent time to put money in the bank and then reposition,
global impact therefore
It is not 9/11 in its devastation or its impact on global demand. Therefore this sell-off will be very temporary.
barrels context crude highest less million mind producing runs since stocks
Crude stocks are misleading. Yes, they are the highest since 1999 but keep in mind that we are now producing 1 million barrels a day less in the U.S. and refinery runs are up by 1.2 million barrels a day. In that context crude stocks are not high.
anywhere near reason
There is no reason to think we are anywhere near the top.
bull doctors enter high last low perhaps seen three
Typically when the dentists and doctors enter the market, you've probably seen the high or low of the move, perhaps the end of the bull cycle. Where have they been for the last three years?
draw gasoline question
The question is, is this a short-lived phenomenon? If you get another big draw in gasoline tomorrow, this sell-off could be a one-day miracle.