So Much For Bloomberg’s New Bull Market In Oil

As I mentioned two days ago when oil popped about 10%, Bloomberg was all giddy in declaring a new bull market in oil.  Within two days oil took back all of Monday’s gains, and more.   With oil now down over 10% from Bloomberg’s “point of new bull market,” is this a “correction” or a sell-off from a paper-manipulated bounce:

OIL

Next up: the “new bull market” in fraudulent Government non-farm payroll reports…

Gold has worked down from Alexander’s time… When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory – Bernard Baruch, famous Wall St financier, philanthropist and Presidential advisor

2 thoughts on “So Much For Bloomberg’s New Bull Market In Oil

  1. K.I.S.S.

    Anything under 45 ponzied FRNs per barrel of WTI is a Steal!

    ““The main purpose of the stock market is to make fools of as many men as possible.”
    Bernard Baruch

    Cheers,
    S. Rex

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