The Market, Energy, And Political Page, Part 2, T+42 -- The Sky Is Falling, The Sky Is Falling -- September 24, 2018

The market: a reader reminded me that this is the last week of the third quarter. A lot of mutual funds will close out their year so they can start putting together their end-of-year reports. Pundies will use the Chinese trade war as the 30-second hook to explain the market today but no one will mention what the mutual funds are doing.

Divergence. There appears to be a huge divergence today: the overall market is down: all four major indices are down but the energy sector (oil) is going to have a great day. WTI is surging, now above $72 for a number of reasons, and OPEC and AOO (allies of OPEC) see no reason to raise production, even as the world is going to be "short" the right kind of oil. The Bush dynasty -- if they are still an oil dynasty -- never orchestrated the oil market as well as Trump seems to have done. We'll see. I'm sure we're all watching different movies today.

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British History