Market Is Up Nicely; Buy On The Rumor; Sell On The News -- WTI Surges -- July 27, 2022

Fed: no surprise. Raises "rate" 75 basis points. Okay. NASDAQ still up almost 300 points.

• WTI: still up about three percent
• TSM: after starting badly today, is up over 2% 
• two days from now? Everyone will forget the Fed rate change today and the market will rip.
  

WTI:

• President Biden announces another sale, not swap, from the nation's SPR;
• and WTI surges:
• for the archives:
• WTI up over 3%
• WTI up almost $3/bbl
• WTI now trending toward $98

Imagine: WTI if President Biden was not selling a million bbls a day

• Libya: exports a million bopd when things are going well
• this SPR release will "get us through the summer" but the SPR releases will come to an end in October, 2022

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Word For The Day

Word for the day: okay, before we get to the word for the day, the French word of "to forget" is: oublier

• the French word "to forget" is oublier
• now the word for today: oubliette
• there are dungeons, and then there are dungeons!
• an oubliette is where kings sent low-lifes they wanted to forget