For the past month, the price of oil has soared by a 50% on no fundamental catalyst; in fact, the "fundamental" situation has gotten progressively worse with the record oil inventory glut increasing by the day even as US crude oil production posted a modest rebound in the past week after two months of declines, while the much touted OPEC/non-OPEC oil production freeze has yet to be discussed, let alone implemented.
Courtesy of Point2Homes
When the average home price in San Francisco went over the $1 million threshold in the first half of 2015, it was pretty obvious for most people that the Bay city secured the top position as the most expensive housing market in the U.S. This is exactly what happened. According to records released at the end of last year, San Francisco is the superstar housing market not only in the U.S., but for the entire North America as well.
Submitted by Dave Forest via OilPrice.com,
Oil and gas data experts Evaluate Energy showed yesterday that U.S. E&Ps took a huge hit in 2015. With the value of total proved reserves in the sector declining by an astounding $515 billion dollars.
The chart below shows just how great the damage is, compared to reserves valuations the last few years.
Submitte dby Charles Hugh-Smith via PeakProsperity.com,
In the lunar calendar that started February 8, this is the Year of the Red Monkey.
I found this description of the Red Monkey quite apt:
Via NorthmanTrader.com,
We have arrived. The moment of truth. If you have followed my writings you know I’ve been talking about the January gap fill and major MA reconnects to come for quite some time. No matter whether you believe this to be a bull market ready to re-assert itself or you view the recent rally in the context of a bear market about to unfold you must acknowledge the pivotal nature of where the market now finds itself in the days ahead.