Saturday, September 19, 2020

Oil drop is due to softening stock market, economic fears: Pickering - Second play, open transcript

 Here is the link. 

Oil drops to multi-month low on demand fears 

- I like to take a smart guess how much more people will sell off those Canadian oil stocks. SU.TO, IMO.TO, HSE.TO, and CVE.TO. 

- I like to get back in 

Next year - demand will come back - should I invest right now, or wait another 10 to 15% drop? 

Down 5 days in a row - oil market will be, demand will gradually come back; push and pull, supply and demand

It will take a year to get it. 

Oil knows something they need to know about. China demands going down

Dow, S&P have biggest nearly one-month lows - 

Weakest section - headline and trader survey 

go up middle 40s because of dollar weakness - Jet fuel demand - still terrible 

Take weeks to process oil - Phillips 66 - 

Big monster sit on sector - difficult time for energy investor - 

$35-$45 - scare, sell everything - keep eye on covid 

slide comes out no where - reality we know oil market will be in a year - bust through inventory, push and pull, supply back and demand back 

$45-$55 is in the range - 

12 things going on - mobility trend - back to normal - 


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