Next week, OPEC will summon what little sincerity they have left and issue a statement implying that output can't be reduced because U.S. shale will take market share and Iran needs to maximize oil production until the Forrest Trump regime returns the U.S. to the 1950s and launches another CIA-led coup on their country...something the real-estate-agent-in-chief and his Hollywood-educated acolytes have no idea ever happened...
In the meantime, what is left to support this double bubble now positioned to destroy the maximum amount of capital in human history?
Throughout this OPEC-led charade, oil stocks (blue) and junk bonds (red) never properly repriced in the oil market reality. In fact oil stocks are at the same level as they were in 2008 when oil hit $140...
Meanwhile regional bank stocks are about 20% above their one year price targets...
Yield is still digesting the explosion in interest rates, while short-covering has somewhat run its course...
Left-leaning SillyCon Valley is hoping Trump won't seek retribution, because we know he's not vindictive, much:
So it's all up to Keynesian bombing of foreigners: Lockheed, General Dynamics, Raytheon et al. Shown here with foodstamps aka. 'Obamanomics'...
Because we know these stocks never peak last, such as they did in November 2008 right before the last bomber-in-chief got elected...
