As I write this from the 27th floor of a high-rise between Fort Lauderdale and Miami, I can see – maybe a half mile out – a cruise ship. It’s been dead in the water since moving out of Port Everglades around 3:00 this morning. It’s a grimly appropriate sight as Americans begin to spin down their day-to-day lives in the face of the COVID-19 (coronavirus) pandemic.
In contrast, the U.S. stock market has seen some extraordinary (and, for my readers following along, profitable) moves to the downside since the Federal Reserve announced it was slashing rates to zero and embarking on a $700 billion quantitative easing program.
This will be a very busy week, but we’ll get through it. I’m currently…
1. Examining the impact of the historic interest rate cut announced yesterday (Sunday) on an accelerating debt problem in the oil sector.
2. Analyzing the initial quarterly report from Saudi Aramco before my live commentary on it this evening (Monday) on China Global Television (CGTN).
3. Looking into potential market liquidity problems in energy sector exchange traded funds (ETFs) and notes (ETNs).
4. Estimating the reliability of intel emerging that Russia is interested in holding “off record” meetings with Saudis on oil production cuts. Any positive development here would not effect the physical oil market until May but would have an emotional impact on traders and investors earlier than that.
Watch your inboxes.
The post Here’s What I’m Watching During This Historic Week appeared first on Oil & Energy Investor.
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