Business

One week ago, we reported that even as traders were focusing on the daily headline barrage out of OPEC members discussing whether or not they would cut production (they won't) or merely freeze it (at fresh record levels as Russia reported earlier today) a bigger threat in the near-term will be whether the relentless supply of excess oil will force Cushing, and PADD 2 in general, inventory to reach operational capacity.

Submitted by Thad Beversdorf via FirstRebuttal.com,

The week explained...

http://www.youtube.com/watch?v=FsqJFIJ5lLs

Stocks extend gains this week - now the best 2-weeks since Bullard's Oct 2014 lows... BULLARD 2 - 0 REALITY

But ended on a weak note...

Futures give us a glimpse of the sudden buying panic into Europe's Open/China's close, selling at US Open on the "good" news... Weak close...

Even though Trannies and Small Caps gained on the day (more squeezes)...

Submitted by Lance Roberts via RealInvestmentAdvice.com,

I was wrong.

I wrote last year that the economists in charge of monetary policy at the Fed were the worst economic forecasters on the planet. To wit:

Back on February 10, when looking at Carl Icahn's darling Chesapeake, whose stock had plunged to effectively record lows on imminent bankruptcy concerns, we said that for anyone brave enough to take the plunge, the "Trade of the Year" would be to go long a specific bond, the $500 million in 3.25s of March 2016 which were maturing in just over a month, and which on February 10 were yielding 300% at a price of 80.5 cents on the dollar.