For a few weeks, a number of traders have quietly been pushing the idea that oil could once again trade as high as $100 per barrel, a price last seen around 2014. Late in that year, members of OPEC decided to maximize their production to push prices lower and drive US shale production out of business. That resulted in a major drop in oil prices as low as $20 per barrel before rebounding.
Today, OPEC is looking more fragmented as members disagree on production going forward. A failed meeting between the cartel on increasing production sounds like it could lead to higher prices. But the higher oil prices get, the more tempting it is for individual members to cheat on their quotas. For now, the uptrend is likely to continue, and higher oil prices can put a damper on economic activity. This may be the one supply shortage that can definitively stall out the global economy and market rally.
Now here’s the rest of the news:
Wall Street Watchdog Assails Fed’s “Toothless” Mega-Bank Stress Tests –Pam Martens and Russ Martens, Wall Street on Parade
It’s starting to look like 2008 all over again. Where are these trillions of dollars of bailouts to the Wall Street mega banks coming from? You should probably sit down before we tell you… [Read Here]
July 07, 2020
If you thought that the technology rally was over, you’ll have to think again. The Nasdaq motored to another all-time high fueled by a 5.77% advance in Amazon shares.
Chinese companies were exploding higher on Chinese economic data and stimulus hopes. There were some mildly bearish trades on QQQ, but ultimately the out-look appears to remain one that is accelerating its pace to the upside.
Here is the rest of the news:
Investors Face a Long, Hot Summer
…according to John Persinos
If you looked at the stock market on January 1 and then slept in a cave for six months and glanced again at the market on June 30, you‘d think: Hmmm. Stocks are only down 4%. Must have been an uneventful first half.
But as we know, the first six months of 2020 were among the most volatile and traumatic in market history.
A financial Rip Van Winkle would have missed a 35% decline from February’s record high and a 44% rally from March’s low. The magnitude of the first quarter’s decline made it the fifth-worst quarter since 1950, while the gain in the second quarter was the third-strongest. The first quarter witnessed the sharpest bear market drop on record.
The U.S economy contracted 5% in the first quarter. Unemployment in Q1 went from a 50-year low of 3.5% in February to 14.7%, the highest level since the Great Depression. All told, we’re witnessing the worst downturn since the 1930s.
In March and April, the U.S. lost an unprecedented 22 million jobs. In May and June, the economy added back 7.5 million jobs. U.S. payrolls grew by 4.8 million in June, the Labor Department said Thursday. The unemployment rate fall to 11.1% in June, down from 13.3% in May.
Wall Street is optimistic that a robust economic recovery is around the corner. On June 30, the three main U.S. stock indices closed the second-quarter with their best quarterly performance in decades. The Dow Jones Industrial Average ended Q2 with a 17.8% gain, the S&P 500 rose nearly 20%, and the tech-intensive NASDAQ Composite soared 30.6%.
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“I was worth over $1,000,000 when I was 23, and over $10,000,000 when I was 24, and over $100,000,000 when I was 25, and it wasn’t that important because I never did it for the money.”
July 07, 2019
Do you hate questions?
What was your answer the last time someone asked you, “How have you been doing?” If you said, “Busy,” you’re certainly not alone. We hear it more often than not, and to be perfectly honest, we often feel the same way.
But here’s the deal: There’s a tremendous difference between being busy and being productive. Even more, there’s a big difference between productivity and focused productivity.
As the quote above suggests, being busy and productive without clarity about your priorities and a focus on what’s most important is useless. Heck, you could argue that it’s worse than useless; it’s potentially harmful and damaging.
So, how can you avoid the “productivity trap”? Here are a few ideas:
- Make a “not-to-do” list.
- Let go of the rest.
- Plan ahead.
- Clear the clutter.
- Put one foot in front of the other.
- Batch similar tasks together.
- Set a timer.
- Schedule mini-workouts.
- Improve your communication.
When you combine productivity with focus, well that’s where the magic happens.
Get-rrrr Done, 😉