NO BUYERS: Russian flagship Urals crude plunges to a fresh record large discount of **minus $22.7-a-barrel** to benchmark Dated Brent. Even at such a huge discount, oil trader Trafigura found no bidders | #OOTT #Ukraine pic.twitter.com/vtg0MsjQji— Javier Blas (@JavierBlas) March 3, 2022
Not every recession is led by a 50% rise in crude.— Jim Bianco biancoresearch.eth (@biancoresearch) March 3, 2022
But every 50% rise in crude has led a recession. pic.twitter.com/PN3vWuzQj9
2-10yr curve chart. the last 6 times we were at current levels presaged major economic and/or financial crises. during that time we have NEVER seen a simultaneous increase in oil this fast without recession. i rest my case. pic.twitter.com/Jayc7azi8i— steph pomboy (@spomboy) March 3, 2022
Equity exposure has continued to unwind relentlessly. Despite relatively cleaner positioning, delevering has been orderly thus far & the lack of stress in flows has been reflected in vols. As I've noted repeatedly, ranges will be stretched here & real deleveraging hasn't hit yet. https://t.co/IfPCuKVOBJ pic.twitter.com/mQipObB36W— Stretching Spreads (@FadingRallies) March 3, 2022
Here is the other count; w-2 is ending. You decide.
Don't want to ruin your bear party--but, if somehow, SPX regains back to the BLACK TREND LINE, then there is still a chance that w-3 of ED is extending. Not that it will happen, but that is something in my mind, at least. Always prepare for different scenarios.
4280--GO GET HIM!! (1) I was expecting a "kiss goodbye" of Black Line, but it doesn't have the fuel to do it; (2) expect a gap-down tmrw below 4330 to kick off the 3rd of 3rd--whatever the trigger might be. (3) holding my 3/16 puts & 3/5 . My stop was 4400; never get there.
Gold is $1,940 and looks like it is preparing for the next leg higher.— Wall Street Silver (@WallStreetSilv) March 3, 2022
Does anyone really want to be short #gold futures over the weekend?
$2,000+ gold prices during March?
What do you think? Opinions welcome. pic.twitter.com/bC8JNFrAxI