Notes From All Over -- The Midnight Edition -- July 1, 2020

US crude oil, days of supply: link here. The supply continues to shrink, at least measured in number of days. We're now down to 38.8 days. LOL. Divide by seven days, about six weeks of supply. Two weeks of supply is cutting it close; one doesn't want to see that. About perfect is three weeks, or 21 days. Anything over four weeks (28 days) is "ludicrous," as Elon Musk would say. So, yes, six weeks of supply is ludicrous.

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Taking a page out of Apple's marketing strategy:

Talk about a disconnect between Wall Street and Main Street. A few days ago, Apple (AAPL) would have also been in the headline:

The "thing" that will drive this recovery, or keep it going: professional sports. The faster professional sports gets back to televising live events (with or without fans, it doesn't matter), the faster Americans will get the feeling that things are getting better. So much of this is perception.

Déjà vu all over again. Didn't we just see this exact same thing a few months ago? I remember blogging about it, using this as an example why I do not use iCloud.