WTI Extends Gains After Big Crude Draw

While Brent popped on Norway disruptions today, WTI has traded in a narrow range for two weeks as US crude production has flatlined for three weeks amid Permian pipeline bottlenecks.

 

API

  • Crude -6.7mm

  • Cushing +1.952mm (-1.3mm exp)

  • Gasoline -1.59mm

  • Distillates -1.925mm

A major crude draw was offset by a surprise build at Cushing…

EIA raised its U.S. crude output forecast to 11.8m b/d in 2019 compared 11.76m b/d estimate in June report.

 

Oil Prices have traded in a narrow range for the last two weeks with WTI hovering around $74 today ahead of the API data and extended the gains after the big crude draw… read more

Jim Quinn: A Nation Built On Lies, Part 2

Authored by Jim Quinn via The Burning Platform blog,

In Part 1 of this article I detailed the damage done by the Deep State and the inevitability of another financial crisis destined to propel this Fourth Turning into its next most violent stage. Now I will examine whether Jordan Peterson’s rules for life can alleviate some of the pain headed our way.

Peterson’s reality-based assessment of our broken societal system has infuriated the social justice warriors and media propagandists whose narratives are based upon lies, misinformation, fake news, and a pliable dumbed down populace distracted by their techno-gadgets. The machinations of the Deep State (Wall Street cabal, Fed, captured politicians, shadowy billionaires, military industrial complex, surveillance agencies, corporate media) are dependent upon the masses believing their big lies and unquestioningly trusting their provably false narratives. read more

Trade-War Buying-Panic Stalls As US Yield Curve Tumbles To Fresh 11 Year Lows

Dow up 700 points… 30Y Yields unchanged…

 

Do you want to play this game?

China managed to extend gains after Monday’s best day in years…

 

But Italian banks suffered as Salvano used the b-word (Breakup)…

 

And US Stocks were more mixed than they have been in the last few days…Small Caps adn Trannies were underperformers, Nasdaq unch (after making an record high intraday) and The Dow best…

read more

Why Hiding From The Trade War In Small Caps Could Prove Fatal

On the heels of the greatest short squeeze in history, US Small Cap stocks have been the ‘go-to’ ‘safe-haven’ as President Trump wields his trade war at ‘multi-nationals’. It’s an easy narrative to believe in – small caps are more domestically-focused (lower international sales), so buy them in stead of large caps as protection from the what’s happening to the rest of the world.

And it’s been working…

But in the last few days, the straight line bid for small caps has faded a little… read more

Netflixonomics: Cash-Burning Machine Blows Billions On Content In ‘Winner-Takes-Most’ Race

When Netflix published its third-quarter earnings last October, Ted Sarandos, Netflix’s chief content officer forecasted it would spend roughly $7 billion to $8 billion on original content in 2018.

 The Economist, quoting a recent Goldman Sachs equity assessment, states that Netflix could spend $12 billion to $13 billion on original content, which is more than any studio or television network spends on films or shows that are not sports related.

According to the IndieWire, Netflix will roll out 82 feature films within the year, including Noah Baumbach’s “The Meyerowitz Stories” follow-up starring Scarlett Johansson and Adam Driver, and the Sandra Bullock thriller “Bird Box,” while Warner Bros. and Disney will respectively release 23 and ten films to cinemas. read more

Iran’s Revolutionary Guard Says “Awaiting Orders” To Attack Israel Ahead Of Putin-Netanyahu Summit

Though by many accounts the situation in Syria’s south is stabilizing as the government is fast securing the border with Jordan after a major offensive against FSA, al-Qaeda, and ISIS factions in the region, the possibility for further clashes between Israel and Damascus remains high, as we previously warned here

In the past months there‘s been widespread reporting on a “secret” deal brokered between Russia, Israel, and Syria, which reportedly involves the Syrian Army agreeing to keep Iranian forces away from the ongoing campaign along the Israeli and Jordanian borders, especially the contested Golan Heights.  read more

“Godfather Of Payday Lending” Stripped Of $64 Million, Sentenced To 14 Years

“In this industry, to build a big book, you have to run afoul of the regulators” -Charles M. Hallinan

A former Main Line investment banker known as the “Godfather of payday lending” for preying on low-income borrowers was sentenced Friday to 14 years in federal prison and stripped of over $64 million in assets, reports philly.com.

Lawyers for 77-year-old Charles M. Hallinan argued that the prison term might as well be a “death sentence” given his age and declining health, however District Judge Eduardo Robreno gave no quarter as he rendered his verdict after a jury convicted him of 17 counts, including racketeering, international money laundering and fraud.  read more

Derivatives Trading Legend: “This Is The Signal That An Iceberg Is Dead Ahead”

After building out Merrill’s mortgage trading floor basically from scratch, then moving to the buyside at Pimco, one year ago Harley Bassman, more familiar to Wall Street traders as the “Convexity Maven” – a legend in the realm of derivatives (he helped design the MOVE Index, better known as the VIX for government bonds) – decided to retire (roughly one year after his shocking suggestion that the Fed should devalue the dollar by buying gold).

But that did not mean he would stop writing, and just a few days after exiting the front door at 650 Newport Center Drive in Newport Beach for the last time, Bassman started writing analyst reports as a “free man“, in which the topics were, not surprisingly, rates, derivatives, cross asset interplay and, of course, convexity. read more

Trump Court Cometh – Pat Buchanan Asks “Is Liberalism’s Great Strategic Ally About To Fall?”

Authored by Patrick Buchanan via Buchanan.org,

If Mitch McConnell’s Senate can confirm his new nominee for the Supreme Court, President Donald Trump may have completed the capture of all three branches of the U.S. government for the Republican Party.

Not bad for a rookie.

And the lamentations on the left are surely justified.

For liberalism’s great strategic ally and asset of 60 years, the judicial dictatorship erected by Earl Warren and associates, may be about to fall.

Judicial supremacy may be on the way out. read more

An Interview with Brandon Straka: #WalkAway

An Interview with Brandon Straka: #WalkAway

I was blessed to have this opportunity to interview the amazing and brave Brandon Straka of the WalkAway Campaign. I hope you guys enjoy!

Visit his website: https://www.walkawaycampaign.com/

Follow him on twitter: @USMinority

Join the Facebook Group: https://www.facebook.com/WalkAwayCampaign/?ref=br_rs
Page: https://www.facebook.com/usminority/?ref=br_rs

Support me on Patreon! (THANK YOU!!) http://patreon.com/tracybeanz
Paypal: @tracybeanz read more