On Tuesday, November 13, 2018 at 12:12:13 PM UTC-5, wrote:
On Tue, 13 Nov 2018 08:33:25 -0800 (PST), trader_4
wrote:

On Tuesday, November 13, 2018 at 10:17:46 AM UTC-5, BurfordTJustice wrote:
US crude falls below $58, hitting lowest level since December 2017



a.. Brent is below $70 a barrel, while U.S. crude sits below $60 as the
sell-off continues.
b.. Saudi Arabia says there is a need to cut 1 million barrels per day of
supply.
c.. Trump says OPEC should not cut oil production.
d.. Oil prices fell on Tuesday after U.S. President Donald Trump put
pressure on OPEC not to cut supply to prop up the market.

Tuesday's decline extended U.S. crude's record losing streak into a 12th
consecutive session.

Brent dropped $1.07 a barrel, or 1.5 percent, to $69.05 by 8 a.m. ET (1300
GMT). U.S. light crude fell $1.08, or 1.8 percent, to $58.85.

Both crude benchmarks have fallen more than 20 percent since peaking at
four-year highs in early October.

Stock market rolling over, oil prices falling, trade wars, interest rates rising......

What does that tell you lies ahead?


Buying opportunities in the market?

I doubt it. I said a few weeks ago, it failed to take out the highs from
a year ago and it looks like the trend is now down. You just had a bounce
off the lows of the past year, ~2580 SP500. At best the intermediate trend
is sideways now. If it takes out the lows, then it's a bear market.

I seem to recall that you think the US economy is headed for an epic disaster,
as the US govt defaults in the not too distant future. That doesn't sound
like a buying opportunity to me. The fed has taken away the punch bowl,
this recovery is very long in the tooth, the Congress is preparing to spend
the next two years investigating all things Trump. The easy money has already
been made, that's for sure.