Earnings dictate price... some sectors will never come back... the impact from this shutdown will be calculated in years not months ... fueled by the fed... nothing backing the recent move except printed money... they are pumping in trillions to prop up the market artificially... their money will run out... smart $ won't buy in until there is clarity... It's going to be interesting to see if the market will loose steam...
Bottom line... 40% cut in production isn't enough IMO... bankruptcies looming... virus fears reignited... I'm a firm believer that we test lows... not buying into this rally either...
Who knows?... we'll see... If I miss out... there's always another...
I don't trust this short term rebound. Virus resurgence and depressed economy will dictate where oil goes.
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