Tuesday, February 16, 2016

Nightcap 2-16-15

I think the big news today was that Russia and Saudi Arabia decided to put a freeze on oil production. I was not sure what that meant, but it seems that Russia and Saudi Arabia agreed to not increase production. Increased production is not what they need to worry about. They need to cut production. Well, the oil market did not fall for it. Oil is still at around $28 a barrel. Saudi Arabia and Turkey are sending troops into Syria. What will Russia do when that happens? Now that will be interesting. Stocks were higher today. The news on the freeze helped spark a rally. Lets see if the rally has legs or if it is just a dead cat bounce. Besides the usual crime, mayhem and disasters, there was nothing else of great importance in the news today. Lets see what tomorrow brings?

What do you think?