Which Way Wednesday – Waiting on the Fed

March 18, 2015 at 08:26 AM EDT

Not much to do this morning but wait patiently . Oil fell all the way to $42.05 in overnight trading but not the contract we were trading (thank goodness), it was the soon-to-expire April /CLJ5 contract that we knew was heading lower still ( see yesterday's post ) . We're back around yesterday's lows this morning and you can still take advantage of our long trade ideas on USO and UCO from yesterday's Live Trading Webinar as prices should still be good today . Oil inventories are at 10:30 and the API report has already indicated a huge 10Mb build is to be expected. The wild-card is whether or not that takes into account Obama's purchase of 5Mb for the SPR last week. Since the announcement came on Friday – it's very possible that it wasn't recorded in the current week's inventories, which are taken on Sunday. This is why we went long on the MAY contracts (/CLK5) and not the Aprils… I sent out a news alert earlier this morning and our Chart of the Day is cerrtainly this alarming picture of Greek 3-Year Bond Yields, which have jumped back over 20% again – something people really have to learn not to ignore! It was also pointed out this morning, in Bloomberg, that while Greece is scrambling to pay German Banksters 20% interest rates, there's no plan at all for paying the $1.59Bn in MONTHLY retirement benefits due to 5.5M Greeks . Greece’s economy has shrunk by a quarter under the conditions laid down by Germany and other euro-area nations in bailout terms. The jobless rate increased in the fourth quarter as the economy began shrinking again and a political standoff rekindled concern the country could leave the euro area. The percentage of adults living in households where no one works rose to 19.6 percent in 2013 to 1.1 million, from 7.5 percent in 2008. In the midst of this looming crisis, Greek PM Alexis Tsiparis is not heading to Franfurt but to Russia , as he's heard that Vladimir Putin is a kind and reasonable man – compared to the German Banksters he's been dealing with. Meanwhile, in Frankfurt, they are rioting in the streets to protest ECB policies which are enriching the Germans while throwing other parts of Europe into Recession (again). IN PROGRESS

waiting animated GIF Not much to do this morning but wait patiently.

Oil fell all the way to $42.05 in overnight trading but not the contract we were trading (thank goodness), it was the soon-to-expire April /CLJ5 contract that we knew was heading lower still (see yesterday's post). We're back around yesterday's lows this morning and you can still take advantage of our long trade ideas on USO and UCO from yesterday's Live Trading Webinar as prices should still be good today.

Oil inventories are at 10:30 and the API report has already indicated a huge 10Mb build is to be expected. The wild-card is whether or not that takes into account Obama's purchase of 5Mb for the SPR last week. Since the announcement came on Friday – it's very possible that it wasn't recorded in the current week's inventories, which are taken on Sunday. This is why we went long on the MAY contracts (/CLK5) and not the Aprils…

I sent out a news alert earlier this morning and our Chart of the Day is cerrtainly this alarming picture of Greek 3-Year Bond Yields, which have jumped back over 20% again – something people really have to learn not to ignore!

It was also pointed out this morning, in Bloomberg, that while Greece is scrambling to pay German Banksters 20% interest rates, there's no plan at all for paying the $1.59Bn in MONTHLY retirement benefits due to 5.5M Greeks. Greece’s economy has shrunk by a quarter under the conditions laid down by Germany and other euro-area nations in bailout terms. The jobless rate increased in the fourth quarter as the economy began shrinking again and a political standoff rekindled concern the country could leave the euro area. The percentage of adults living in households where no one works rose to 19.6 percent in 2013 to 1.1 million, from 7.5 percent in 2008.

[image] In the midst of this looming crisis, Greek PM Alexis Tsiparis is not heading to Franfurt but to Russia, as he's heard that Vladimir Putin is a kind and reasonable man – compared to the German Banksters he's been dealing with. Meanwhile, in Frankfurt, they are rioting in the streets to protest ECB policies which are enriching the Germans while throwing other parts of Europe into Recession (again).

IN PROGRESS