"Rome seeks its own glory, wars against other peoples to subjugate them, revels in material existence, lives off the work of slave labor, allows many to die of poverty and starvation, and promotes entertaining circuses and gladiator spectacle. "
Ironically, the oil industry is in the process of being bankrupted by poverty. Trump's plan is to increase supply by enabling further drilling on Federal lands while decreasing demand by extracting record capital from Emerging Markets via his impending tax cut. His plan will "work" to the extent that it does the exact opposite of what the Idiocracy expects.
Crude future speculative longs just hit a new record this week:
Oil has carved out another head and shoulders top:
Here are some new charts I just created:
This shows the average stock as a ratio of the S&P:
This is the Russell small cap as a ratio of consumer staples, to indicate speculative appetite:
This is the advance - decline line 12 week moving average:
