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Veritaseum founder, Reggie Middleton, has accurately called the banking crisis, European sovereign debt crisis, the housing & CRE crash as well as several major tech paradigm shifts over the last 10 years. Click graphic above for a video synopsis of his track record. |
Oil prices have increased 50 percent since the lows exhibited earlier this year, a rise that is largely linked to the positive market reaction to the OPEC output freeze.
But WTI Crude has given up all its early morning "see oil is fixed" gains in a hurry as once again the algo ramps give way to the realization that, as OilPrice's Leonard Brecken notes, comes even as for all intents and purposes OPEC has nearly reached its production limits and Iran still plans in increasing output.
One month ago we wrote that as a result of the vicious gyrations in the market, even one of the top performing poster children of successful hedge fund investing, one which had so far avoided the P&L misery shared by many of its peers (mostly due to its "tactical trading" or HFT frontrunning group) Ken Griffen's Citadel had been quietly unwinding its Surveyor Capital multi-manager long/short (not, as some mistaken assume "market neutral") strategy.
"We're in a bear market — we can't get away from it," warned CNBC's Jim Cramer on February 5th, exclaiming that "the stock market is not working."
In his own words...
http://player.cnbc.com/p/gZWlPC/cnbc_global
But a month later - following a 13%, almost irrepressible ramp in stocks - Cramer has changed his tune, explaining last night that "signs of a massive rally could be coming."
Over the past month we have documented the surreal reemergence of China's latest housing bubble (recall the first one burst in early 2014 which forced Beijing to reflate the stock market bubble, which also burst over a year later), in recent articles such as: