< meta name="DC.Date.Valid.End" content="20050825"> Amendment Nine: Crude Report...

Wednesday, November 17, 2004

Crude Report...

First, let me just state for the record, the Kmart-Sears merger that everyone is applauding is a BAD idea, for various reasons. I may or may not post on them later, depending on how much money I think I can by shorting these pitiful old dinostores.

Second, crude inventories were UP, but by 1/2 the amount everyone expected. I call that a haircut. And with distillates continuing to contract, I think we can reasonably expect further "lowering of expectations" over the next month. Anyone who can tell us where the initial injection of inventories came from back in mid October (which began crude's decline) gets a bottle of wine on us (and possibly some sort of investigative journalistic prize). TIPS TO: mailamendmentnine@yahoo.com