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OK, Who Stole All The Oil? Come On, Put It Back.

Written by A Forex View From Afar on Wednesday, January 09, 2008

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Where have all the Barrels gone? The US is refining Crude at a faster rate than new supplies can get into inventory. The twelve week total now runs at Negative 39 Million Barrels of crude. That is nearly twice the daily GLOBAL production of Oil; how easily do you make that negative number go away?

Maybe the same way that you make the Jobless Rate, Trade Balance, Current Account, and Housing Inventory go away; print more money, flood the Market with liquidity, entice consumers to borrow more at Teaser Rates, make them forget about Energy Inflation, and deal with the consequences later. Maybe? Are there any other more palatable answers in an Election year in the US?

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Fundies and Trading
There is a constant question from some traders as to why anybody would ever need to consider the ‘F’ word when trading. Fundamentals: what is so damaging at looking at both Technical charts and having a Fundamental filter to gauge how many Lots to put on? Why is it that accepting that Technicals give us price points to trade, but Fundamentals determine the direction that we travel is so difficult for some traders to accept? Without a Fundamental Filter very few pure Technical traders would have seen this Dollar move coming today.

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