Following last week's massive inventory build (and hope for improved gasoline demand), API reports another much bigger-than-expected build (Crude +9.94mm versus +3.5mm exp) and WTI and RBOB prices tumbled.
API
This wil be the 6th weekly build in a row for crude (and 3rd week of major builds)...
86 days in a row without a 1% drop... Buy The No Dip...
6 up in a row for S&P... (longest winning streak in 2 months), Trannies ended the day lower...Dow leads on the back of GS, JPM, and AAPL (45 of 90 total points)
With the release of the Berkshire Hathaway 13F for the quarter ended Dec.31, we now have the answer who was the "mystery" buyer of Apple stock in the fourth quarter: it appears that when many others were selling, Warren Buffett was very busy buying.
In fact, he bought so much that he is now one of the top 10 holders of AAPL stock, with a disclosed position of 57.4 million shares, just behind T Rowe price, a nearly fourfold increase in his previous AAPL holdings, increasing Berkshire's Q3 stake of 15.2 million shares by 42.1 million.
Submitted by Simon Black via SovereignMan blog,
About 20 years ago when I was still a cadet at West Point, my economics professor organized a class trip to the Federal Reserve Bank of New York.
The part of the trip that I remember most was touring the Fed’s high security vault, 80 feet below street level beneath the bank’s main office building downtown.
This vault houses the largest known depository of gold in the world.
By EconMatters
We discuss how traders are in a Euphoric Bubble Mentality where they can buy every dip and feel there is no risk of losing money in a Market Environment similar to other Market Bubbles at the Euphoria Stage of Excessive Risk Taking. The Fed Needs to Raise Rates 50 Basis Points at the March Meeting!
https://www.youtube.com/watch?v=bq4CoSlcCKA