By Tim Knight
I don’t think I let myself know just how nervous I was about the OPEC announcement in the wee hours of this morning (my time). When I woke up, however, it took me about one second to grab my iPad from the side of my bed, fire it up, and look at crude oil. I was massively relieved to see that, quite obviously, whatever OPEC had to say did not thrill the market. (The “whatever” turned out to be a 9 month extension to their cuts, as opposed to something more dramatic).
I have a very substantial long position in both DRIP and ERY (the triple-bearish energy ETFs) as well as a scattering of energy shorts. I think this is going to be OK.Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.