Oil and Gas nventories in the US plunged yesterday...yet oil sold off. What gives?
Perhaps PLUNGE PROTECTION has moved from micro-managing the gold market to micro-managing the oil market? (Actually I think that would be advisable at this point)
Today gold is up big...even while oil continues to Sell Off. What's up there...?
OK perhaps some profit taking and the market could be "over-bought" and a sell down now is really a "trading" phenomenon...not a market phenomenon.
Still the oil market is much deeper and "industrial" that the gold markets... If Plunge Protection tries to control the oil market, like it has the gold market...things could get dicy fast.
OIL COULD BE THE "NEW GOLD" IN THE FUTURE... OIL COULD BE THE NEW "KING PIN" COMMODITY AGAINST WHICH EVERYTHING IS "PRICED"...INCLUDING THE VERY PROBLEMATIC US DOLLAR... Stay tuned.
