Yeahp, oil at fresh new historic highs again - pushing 147.
Scary to think what will happen when people start rushing for the exits in the energy names - like what happened yesterday in the coal names; many coal stocks fell 20% in one day which makes me wonder about how manipulated markets really are.
Yesterday was quite interesting; Dennis Gartman pointed it out and it was incredible to see - all the underlying commoditied (gold, crude, copper, etc) went up, but the stocks associated with those names fell hard. Maybe this is a sign of a reversal in the commodities markets, but who knows. I think the dollar still gets weaker which automatically makes me bullish on gold.

I couldn’t have been more wrong yesterday about the trend day up. It was a choppy day which finished down about 160, and I was pretty foolish to think we would see a trend day on a thin holiday tape. Lesson Learned.

This morning all eyes are on the jobs number which is forcasted at -60k; the futures are down ahead of this and are bracing for the worst - which leads me to believe that the expectation are so bad for this news, that no matter what number comes out we could see a bounce.