Anyone see what has happened to ICE since Goldman downgraded last Thursday at 85? After it fell 35 points? ICE is now up 7 in their face already, on the way to par! It sure would be nice if that story was covered. Somewhere. Oh it was.
And in that story, I said to buy oil at $59. Check the comments. Wasn't that the bottom? And isn't it amazing that Goldman touts oil at $70, then turns cautious on it at $59, but their prop desk, can't ever seem to book a loss on commodity trading! You may find that Hard to Swallow, just like Ice's album!
But let's look again at that story.
Now "do as I say, not as I do" Goldman is turning cautious on ICE. So don't now do, what Goldman says! Even when Goldman attempts to be subtle. After all, if you check the uses for oil in the barrel above, you'll see that just the smallest fraction of oil is used for lubrication. Goldman, however, seems to use all of it on its customers!
But Goldman warns us of that! After all, here's their disclosure. As with Goldman, nothing is just plain vanilla!
Look like Goldman , once again, got in the customer's bottom, who listened to their advice.
But at least this time, they used oil's lube!