You're welcome!
That's right, if you read our pre-market post yesterday (and Members never miss them) and you followed our oil play, you made a nice $1,500 for each long contract you played – a great holiday bonus, courtesy of Philstockworld! In our Live Member Chat Room at 10:18, I updated the play after my Reuters interview, saying:
Reuters just called me after reading my post to go long at $50, I told them I expect $51 by tomorrow but at $51.50 I'd be comfortable flipping short.
Now the tricky thing about seeing your marks hit so perfectly after a national interview is you can't be sure you didn't CAUSE the move you predicted so we lost interest in playing oil overnight and that turned out to be a good thing because, early this morning, Donald Trump's Government Sachs (GS) and Donald Trump's Russians (RSX) teamed up to boost the oil market into the weekend. Early this morning, GS announced:
- “We are raising our Q217 WTI price forecast to $ 57.5/bbl ($ 55/bbl), $ 59/bbl Brent beyond H117
- “We expect that the global market will remain balanced, with Brent prices between $ 55/bbl and $ 60/bbl
- “We are smoothing out our medium-term price forecast, with our H217 and 2018 Brent forecast now $ 58/bbl (prev $ 63/bbl) & $ 55/bbl for WTI (prev $ 51.5/bbl)”
No they weren't tweeting the report but you'd think they were the way they write it, right? Of course, when you want to manipulate the markets, you do need to break your content up into tweetable sections – especially ones that can then be clipped out of context (like GS predicts $57.50 oil) to goose the market reaction. It's even better when you…
