"These days, the markets just wander in and out of time like strangers. I go from oil to gold to stocks and back and forth looking for something to trade, but there’s rarely anything outstanding. April was a fabulous month, but we don’t get them often."
Missing the volatility back in April too. I find it hard to say engaged and motivated when it's like this. I try to use the time to read and learn but still...
" If any longs do take profits, a precise number of new longs has replaced them, practically to a point of arithmetic perfection for 4 weeks as prices rallied ca. 450 handles. AI is a very close second to magic.". Nailed it. I am wondering how long they can manage that trick, and if the handlers even know how it's being done. It's the apparent scale that is magic. I know that a major challenge for the Medallion Fund was figuring out how to size it's holdings and manage the algorithm so it didn't create it's own negative feedback loop. They went through multiple iterations where it would go from a calm spring day to the final minutes of the Tacoma Narrows Bridge.
There was a huge X bug put in in early May that completely trashed some of my multi-year long threads. Tweets are no longer shareable. I reported this but completely ignored. Twitter post-Elon is functionally much worse.
From another Substacker, “In other words, the cheaters can produce the same amount they are producing today and compensate for the previous cheating. This equates to no additional production from the other 7 producers.”
pretty much what I've been wondering... where tf are they going to put all that oil? especially with lower demand in china. The only thing I can see is market share over fixed prices and the only way to assure it is with lower prices. But so far no sign of that in inventories... cracks took a hit yesterday..
"These days, the markets just wander in and out of time like strangers. I go from oil to gold to stocks and back and forth looking for something to trade, but there’s rarely anything outstanding. April was a fabulous month, but we don’t get them often."
Missing the volatility back in April too. I find it hard to say engaged and motivated when it's like this. I try to use the time to read and learn but still...
" If any longs do take profits, a precise number of new longs has replaced them, practically to a point of arithmetic perfection for 4 weeks as prices rallied ca. 450 handles. AI is a very close second to magic.". Nailed it. I am wondering how long they can manage that trick, and if the handlers even know how it's being done. It's the apparent scale that is magic. I know that a major challenge for the Medallion Fund was figuring out how to size it's holdings and manage the algorithm so it didn't create it's own negative feedback loop. They went through multiple iterations where it would go from a calm spring day to the final minutes of the Tacoma Narrows Bridge.
Love the Steinbeck quote.
re: "These days, the markets just wander in and out of time like strangers"...
https://x.com/RudyHavenstein/status/1121070364895748097
Love that … relentless thread!
There was a huge X bug put in in early May that completely trashed some of my multi-year long threads. Tweets are no longer shareable. I reported this but completely ignored. Twitter post-Elon is functionally much worse.
Opec supply increases
https://www.youtube.com/live/VI3fJP1Z_to
Definitions of doldrums:
noun: a belt of calms and light winds between the northern and southern trade winds of the Atlantic and Pacific
noun: a state of inactivity (in business or art etc)
Welcome to summer
From another Substacker, “In other words, the cheaters can produce the same amount they are producing today and compensate for the previous cheating. This equates to no additional production from the other 7 producers.”
pretty much what I've been wondering... where tf are they going to put all that oil? especially with lower demand in china. The only thing I can see is market share over fixed prices and the only way to assure it is with lower prices. But so far no sign of that in inventories... cracks took a hit yesterday..
We’ll see if paper barrels translate to physical barrels.
5916...