The Rio Grande Zephyr, fueled and ready to go
https://railpictures.net/photo/723057/

[I didn’t think a V recovery was possible but if this article is correct, there could be quite a violent recovery from a panic drop into the a$15-$25 range-maybe not to 60-80 buck oil but just to 40-50 buck oil would suffice to make XOP calls a big winner]

“Historic” oil price war sends crude into downwards spiral—March 8th 6:31pm

But the end-game here is not low oil prices, but rather forcing Russia back to the negotiating table. The question is how long – if at all – that will take. “We would stress that it is not in any OPEC+ nations’ interest to have sustained oil prices below US$50, and hence we see this solely as a strategic move from the Saudis,” RBC says.

Put spread traders are set to almost 10x their bets. WTI June $34/$29 put spreads, which traded almost 13,000 times on March 4th for $2.9M, are now worth $26.5M. In early trading, more than 200 May $15 puts traded.

“What makes this price war especially dangerous and historic is it breaks out simultaneously with a massive demand shock… from the coronavirus. “We have not seen that toxic combination since the early 1930s when [Texas’] monster Black Giant field started up in the teeth of the Depression, sending crude oil prices down to pennies on the barrel,” Robert McNally, president of Rapidan Energy Group, a Washington, D.C.-based energy-market consulting firm, said.

https://seekingalpha.com/news/3549585-historic-oil-price-war-sends-crude-downwards-spiral

Silver is inexplicable.

We’ll see what the morning brings.

Even though EUR/USD just jumped from 1.14 to 1.15 in minutes. and Dlr/Yen fell from 103.70 to 101.50 !!!!!!

As someone just puked up more carry trade losses.

Clearly the scum are going down with the ship.

Maybe this is the big one Elizabeth. Red Fox.

Not unfathomable. Could happen I guess. Gold will get stronger but they have their boots on silver.

The SM and oil are toast for awhile. JMHO

I agree,  we should be up $100 and screaming.

Feels different this time,  at least from other times  🙂

CDN dollar crashing with oil

See what morning brings

Winedoc

PS:  Silver Motorcycle Parts still cheap ….. Go figure

It dropped nearly 20 % in ’87, that is over 5000 pts tdy……it concentrated the mind at the time….

To equal 87 it would take ~ 5k.

Everything’s crossed.

Cheers

Hoping the mystery seller @ $1700 is overwhelmed by the morning.

Can you imagine the panic if a black Monday type of event took place in the SM?

It’s down 979 pts. now, how many pts. would that be in todays SM?

that at Davos that guy Mr. Prince rang the bell when he said the boom bust cycle is over…besides all the other bells ringing like the magazine covers…the bull/bear/sentiment indicators

https://futures.tradingcharts.com/marketquotes/ZB.html

we all know JPM is the big Solver short/seller….What if they knew the Fed was gonna keep a lid on Gold, so decided that they could make even more money by shorting Silver, knowing that the Fed was there in Gold….and what if when the virus struck Dimon realised that the game had changed radically and they were ***ed, which caused him to have heart attack.

THIS IS A 1947 6-FLIPPER D. GOTTLIEB–my Dad bought it for me in 1954–he paid $15…I was 11 yrs old and thrilled!

******************************************

take a 50% position right now in some may or june XOP calls

Ya that would be a gift.

Cheers

Tks for yr Sons thoughts…that makes plenty of sense….i think the one thing that has gone wrong, is that travel has not been shut down, anywhere near early enough….it’s too late now…..but a few months inconvenience could have stopped the spread much easier.

But that doesn’t fit the Globalist agenda…the EU still has not shut anything down, nor has the UK…

The Bird Flu has broken out in China.
https://www.dailymail.co.uk/news/article-7987009/Bird-flu-breaks-two-Chinese-provinces-near-coronaviruss-epicentre.html?ito=social-facebook&fbclid=IwAR2W1v0mgk_Zon7X4WRlVhpj8nFOY-mk3gNNthGyEHPz72_1cng4YOMl1VA&fbclid=IwAR0ZWVRNW4IQAyrK4elN0gGW4UUPf7V0lLwkJmYFJhbr8sw97IiB0Lz4hmU

Joe Biden sums up his campaign:

"We cannot win this re-election. We can only re-elect Donald Trump." pic.twitter.com/TrO7pCUCUT

— Trump War Room (@TrumpWarRoom) March 8, 2020

Have to send that one on! 🙂

https://futures.tradingcharts.com/marketquotes/CL_.html

That said….at $30 I’d start building a position…

so it was about 30 or 40 bucks–as of friday it was $5…so without the split GUSH went from $42 to 50 cents…and if oil craters to $20…then what? 20…30 cents??  [$2 or $3 bucks post split down from 30-40 bucks??

They’s gonna be lots of freebies like that all over the energy landscape–it’ll be like the 1974 low in stocks

Yes that’s bound to happen at some point.

It will trade with a positive correlation to the stock market while stocks are crashing however.

So based on the indications right now,which you pointed out looks bad for tomorrow, one should perhaps be both patient and nimble if you are thinking of taking a whack at it.

Myself I like the short stocks – take profits regularly – turn them into physical silver for as long as it’s still available trade.

That’s what I am doing because at some point the geniuses of the world (sarcasm) will figure out just about everything will need to be coated with silver in order to prevent the spread of these deadly viruses and a severe shortage of physical can develop over night.

That’s why the bankers are abandoning their Comex silver short and it would be surprising if they step back up to the plate when it starts to rally because they know what is happening.

But they are on a suicide mission so who knows — they might try to continue fighting it because it’s all over for the asshole bankers once silver is out of the barn.

Cheers