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ShelladyOptions
Senior Contributor

OptionEye - Macro Outlook - Nov. 28th

Good morning. 

 

It's gonna be about OPEC and oil today. After refusing to yield on production levels, oil is getting slammed this morning, down over $4.00. As of writing, oil is trading at $69.24 down $4.45. Ouch. 

 

Grians overnight were closed but judging by this morning's traffic, things are going to be quiet. Granis in Europe are slightly higher. 

 

Gold is lower as well and stands at $1183.15 down $7.93. 

 

Stocks are lower with European stock exchanges down about .50% 

 

The 10 year yield has made its move and it is going lower. It now trades at 2.20% telling us that things are not going to get better anytime soon. 

 

The dollar is continuing to strengthen and is up .38 to 87.99.

 

I hope everyone had a great holiday. Let the shopping begin!

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2 Replies
lsc76cat
Senior Advisor

Re: OptionEye - Macro Outlook - Nov. 28th

The oil boom/bust cycle could be alive and well.  As always lower prices good for consumers of fuel.

But this type of work stops and hurts others.

Sump.jpg

 

It's a slurry tank used for processing fracking sand. 

Part of the water/sand/chemical "cocktail" pumped into every one of those holes shown in the NY Times

article that Hobby shared.

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Palouser
Senior Advisor

Re: OptionEye - Macro Outlook - Nov. 28th

It will be interesting to see how much pain the Tar Sands can absorb due to their innefficient production 'cooking' the oil out vs fracking and pumping in other fields.

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