... I know there will be rallies.
But I'm discounting that...
If Oil goes to my target price, that will not be a very pretty picture, regardless of what sector one is in.
Oil price collapse = contagion
Contagion is not a word I use loosely.
Contagion leads to price depreciation, deflation & ultimately wars.
We are not there yet, but we are getting closer with every passing day.
Think Russia and how much they are hurting (along with other Oil producers).
Norway is insulated by their huge fund, which they have kept going for the proverbial rainy day. Which is now amongst us.
Canada will be hurt badly, because we did not do what the Norwegians did....
In Canada if we have a collapse in Oil = collapse in Real Estate etc... and the economy(I can already hear the big sucking sound).
The Canadian dollar in 10 months has lost nearly 15% of it value.
The Russian ruble has lost 50% of its value since June, 2014.
Saudi Arabia can deal with $10.00 oil/barrel coming out of the ground. So maybe the Americans will rip up their defense treaty with them (in place since WW11).
For once I am glad that the Sheiks are not running the show.
The rest of the World? A big mess headed are way.
The foregoing is just a read on the Macro conditions that I see on the various charts.
There is a saying in Alberta.
Boom/BUST I'm sure Texas has the same saying.
We are definitely going BUST right now...
BWTHDIK
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