I stepped back into the oil well, repurchasing SLCA 2 points lower in the low $35s. For fucks sakes had I waited a day later I could’ve got it another $2 cheaper. Nevertheless, I find myself positioned quite comfortably despite the red all across the market. The great orange president of the United States wants the streets flowing with oil and will get that by hook or crook.
Speaking of orange, I am about to have a monster serving of mango topped on sticky rice. It’s quite delicious.
In other news, cryptos are in full crash mode and the spread between the Asian exchanges and American ones have narrowed to a mere 2%. This is particular saddening to me, since I can no longer partake in hedonistic acts of cryptocurrency arbitrage. Those plans will have to be put off for when the euphoric bull market takes back control, which will undoubtedly happen in due time. On that note, if OSTK can drop into the low $60s, I’m a buyer.
These crypto exchanges are perhaps the most ridiculous exchange platforms that ever existed in the history of finance. They are run by idiots and the prices can differ by up to 25% for the same asset between different exchanges. Did somebody say arbitrage? Those markets ebb and flow with amateurish emotion and that spread closes to 0% the second there is fear in the air; aka now. I still have the MD of Kia Motors calling me every day telling me he wants to buy 10 bitcoins everyday, forever. I have to quote him egregious prices as a means of telling him to fuck off. I don’t know the Korean exchanges but I’m pretty damn sure the bid can’t handle that kind of volume.
Anyways, buy the dip. You’ll be glad you did.