Home > May 2017 > May 15, 2017 Oil getting Big Pop over Saudis, Russia keeping cuts and China’s 78 Billion Pledge

May 15, 2017 Oil getting Big Pop over Saudis, Russia keeping cuts and China’s 78 Billion Pledge

Oil is getting a major Dead Cat Bounce tonight over 2.55% as the Saudis and Russia announce that they favor extending the deal to cut Production for an additional 9 months when they meet in Vienna next week at Opec Meeting. The Loonie is much stronger over this push up in Oil, along with our Futures which is over .15% in the second hour of the European session. China Missed BIG on Industrial Production Numbers tonight 6.5% vs expected 7.0% along their Fixed Asset Spending missed . Their Retail Sales was inline. Shanghai Futures didn’t worry about the miss and followed the Oil Rally pushing up Copper and other metals along with China Prez Xi announcing a pledge of 78 Billion spending towards the “Belt and Road” at the Belt and Road Conference that is going on in China. Everyone was expecting the promise but with the pop in Oil it’s just more good news in the commodity space. OPEC also came out saying there is less floating Oil out there (well duh, the speculators have been selling it like crazy on a slower china theme). Will be interesting if the oil rally is sold when the US Session starts.

May 2017

  • panther341

    GM TN. You know the oil news.

    Big news from here – I heard from one old friend last Thursday and just heard from another – I am amazed at how many of these people are getting divorced after age 60! This was an old book group and everybody but me left town. LOL Should have been a clue – I am SO dumb at times!

  • Trading_Nymph

    Hi Panther!!!! It would be so strange to get divorced after 60. You spend a lifetime together and then like good bye?? ROFL…are all your friends Cougars? That would make sense then…lol….trading in for a newer model. Have you ever thought about moving and leaving town? It is so hard cuz, for me, I always think there must be somewhere better then where I am…but it’s so hard to find a place that has no snow, tornadoes, hurricanes, tsunamis and has a lot of SUN (love Sun)…oh and not an Island. California is a hard place to top…lol…if you ignore the Earthquakes. Italy fits the build..I think…but I would loose all my friends and family I think.

  • Trading_Nymph

    Panther you know what is so silly about the China President Pledge of Money for Belt and Road. They are all loans to places along the Belt and Road. So China is lending money to India and Greece, lol, imho they really need to get some really great collateral upfront.

  • panther341

    4 of the 4 I recently found out about – it was the husband who cheated and traded in wife of 30+ years for a new model. None of the 4 were wives you would expect to be traded in. Only one of the women has a new relationship – the librarian! But her ex started the whole new relationship gig. One who is coming to visit soon lives in LA now, is almost 70, and has a son finally graduating from college so she is coming here for graduation. Son was born late in life – after they had adopted.

    One woman teaches yoga and is really beautiful. We are talking about peeps with grandchildren in at least 1 case!

    Personally I like my house and my neighborhood, my neighbors, and my independence and plan to stay right here as long as I can! My closest family is like 100 miles away – and siblings are more like 175 miles. Close enough! All the others in this book group were not originally from around here – they came for husband’s jobs in high tech industry. They had all been here for like 8-10 years, but had family and whatever elsewhere. The librarian and her husband moved to Minnesota and now she is living in Indiana. The yoga teacher went to Germany for like a year, but then she moved back here.

  • Trading_Nymph

    That is so messed up….they should all get cute young studs to cheer them selves up, lol. Your family is still close enough…3 hours isn’t that far. I think I just have a case of the “grass is greener”..lol. But Bottomline, I don’t want to move either..love my world too.

  • panther341

    When the old dudes get sick and the new wife ditches them ….

    The sad part is that “retirement” was negotiated from the divorce but all will have to work longer than they ever imagined – including the guys whose ex now has at least 1/2 the retirement. And given that they were all in tech – … that is unheard of. They might be working at Home Depot! New wife might not be so happy then!