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Saudi Arabia tanker power play could backfire as oil demand shrinks

March 23, 2020 admin Comments Off on Saudi Arabia tanker power play could backfire as oil demand shrinks

Top exporter Saudi Arabia has chartered an armada of ships to flood the market with additional oil, but in the process has driven freight costs so high refiners are reluctant to take the shipments. Following the failure to persuade Moscow to support deeper output cuts at a meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+ early this month, Saudi Arabia said it would increase output to record levels in a fight for market share. Shipping industry sources say Saudi Arabia has booked as many as 25 supertankers and provisionally chartered another …read more […]

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Hedge Funds Were Buying Iron Mountain Incorporated (IRM) Before The Coronavirus

March 23, 2020 admin Comments Off on Hedge Funds Were Buying Iron Mountain Incorporated (IRM) Before The Coronavirus

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]

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Trump May Ease Stay-At-Home Advice; 15,000 Dead: Virus Update

March 23, 2020 admin Comments Off on Trump May Ease Stay-At-Home Advice; 15,000 Dead: Virus Update

(Bloomberg) — U.S. President Donald Trump began talking privately late last week about reopening the nation to curb the economic rout. Earlier on Monday, he said measures shouldn’t be “worse than the problem itself” and later retweeted posts calling for healthy people to return to work after 15 days of precautions.The Federal Reserve announced a massive second wave of initiatives to support the U.S. economy, boosting stocks after Democrats blocked the Senate from advancing a rescue plan. Germany approved an $800 billion package, with Chancellor Angela Merkel in quarantine.Japanese Prime Minister Shinzo Abe said a postponement of the Olympics may …read more […]

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Goldman Sachs: 2 Stocks to Consider Buying (and 1 to Stay Away From)

March 23, 2020 admin Comments Off on Goldman Sachs: 2 Stocks to Consider Buying (and 1 to Stay Away From)

As the battle against COVID-19 wages on, investors are seeking refuge. Nations around the world are taking drastic measures to flatten the curve, but these efforts are expected to hit the economy hard.Amid the ongoing public health crisis, even the most seasoned Wall Street observers have been spooked. Three months after the virus began its rapid spread, so much remains unknown about COVID-19 and the amount of time that social distancing will be necessary. As a result, investors are turning to less risky plays, but even safer investments like Treasury bonds have been put through the wringer.With this causing recession …read more […]