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I know OXY and BATL are both starting to dip. I believe that when OPEC begins producing more oil it will begin to decrease the oil prices, law of supply and demand. This is actually going to be a good thing for the overall market. Right now peoples’ money is being funneled into gas prices at the pump. This means they have less money available for discretionary spending, buying things they might want but don’t necessarily need. I have noticed for instance that restaurant stocks are dipping significantly as people are realizing that this is an area of discretionary spending.
wow thank you again for all your work MIKE so many things I have learned from you thank you again!
It will turn the market up!
i love this show
Commodities going down = lowering prices = rising demand, and that's the opposite of what FED wants.
This Phucking Fed needs to raise the damn rate .75 get it over with if we over shoot we can go to one less hike or just a .25 hike.
Petrodollar
Learning a lot from you young man! This stuff is fascinating! My only complaint is where we’re you when I was 20 years old?!!
*overbought
Has the market ever hit crash levels simply to revisit them shortly after? From my research after crash levels the shortest time period before revisiting is 6 months later. I'm thinking parabolic! This presidency needs to recover the markets or they will lose the election guarenteed…. as of right now, our last exchange on YouTube is still the effective bottom. 🙏
Thanks for knowledge of commodities index. Great observation tool.
I've had some open WEAT and CANE options for end of July, for a while now. A small hedge that I don't think has peaked yet. The real X-factor for all of these historic price charts is the big looming question of Exactly how bad can the Biden Admin. screw things up from here?
When Biden is making statements about energy companies needing windfall taxes while simultaneously begging Saudi's for increasing production, we've got a big problem. One of his first acts in office was to kill the Keystone pipeline and 10,000 jobs. The Fed are going to have to be the grown-ups here and keep bumping rates. Biden isn't changing any of the spending habits and energy prices have a compounding effect on all other commodities.
I don't commodities but in the economic terms it's illogical for commodities to be this high up. In general, all these commodities should be rather affordable because they are essentials. Thus the price of commodities should always come down to the base line at some point.
Energy companies used to comprise about 25% of the S&P 500 in the 1970s. Now it is 4%. Going forward energy stocks will start kicking tech stocks out of the index until they exceed 25%.
Look for $10 per gallon gas before this mess unwinds completely.
but they way u kill the demand for commodities is lay offs, and layoffs are bad for profits in businesses in the s&p… they're hand in hand..
I think it’s a supply side problem with oil and nat gas not easily resolved. No quick fix under investment in the industry for years and companies in no hurry to spend. No new refineries and they are at max capacity
Since everyone seems to be long commodities, I'll take the opposite view due to the fact that a slowing economy and S&P 500 headed down to 3000 that will kill demand. Of all the commodities I like being short Soybean Oil. Hell of a chart, shorted at 85. Also commercials are heavily short. The commercials are never wrong. They know a big decline is coming in Soybean Oil.
A slowing economy, raising rates, and top in inflation is not good for commodities at least over the next year or two. And sell in may then go away is what happens to stocks till early November. I wanted to be long commodities but I can't given these conditions.
Energy and the war are the X factors I don't see any real effort on Energy and the war no one but Putin can give us an early fix on that. So I see this chaos being the norm for a while.
It all depends on oil. Everything is affected by the price of oil. Demand will suddenly fall off the cliff at some point. Who knows when?
Then you are the worst youtuber and best informative channel out there more people needs to watch this you need to learn how to title your vids so the algos picks it up man. Not like the click beaters.