Two scary charts.... woo buddy things are sucking!

Perhaps the european and asian

economies has a large effect on ours.......

 

Yes, there is a very clear reason. It was talk of an OPEC freeze in production. That clearly will NOT happen and oil will fall much further.

Why? Iran has clearly stated it intends to up production which can increase supply markedly since sanctions have been lifted. Kuwait has stated it won't freeze and most importantly,Saudi oil minister Ali Al-Naimi stated categorically, “There is no sense in wasting our time in seeking production cuts. That will not happen.” Excess supply equates to lower price.

And talking of supply, storage at Cushing and the Gulf farms is pushing 90%! There is no place to store this ####!

Next stop, $20.

TA

 

I like the charts.....

See? They show an upwards trend at the end.

 

I like the pretty colors.

 

I guess not.

 

February charts are always about the worst you could post!

 

Glad I don't rely on the economy to determine my blessings!!! Things are looking and have been good on this end......

 

Today I heard an interesting summation that might give us a clue to less freight movement. A business report stated China's exports were down 25% for February. Folks, this is a tremendous amount of freight that is not coming to our docks. Hate to say this but; So goes China so goes us.

 

It's definitely a global economy, when one large country slows we all feel it.