As you know, the oil industry has been in a severe depression since 2014. Oil prices plummeted from over $100/barrel all the way down to $30/barrel. Today, that figure hovers around $50 and is showing little signs of returning back to the $100 level any time soon. As bullish speculators continue to get burned by “demand is finally back” or “supply is finally falling,” more and more oil giants fall on serious hard times.
October is a famous for market crashes. Will this October see another CRASH?
When you look at sectors, such as energy, retail, small cap stocks, the crash is already on the way.
While all the pundits talk about earnings, and an allegedly great economy, they don’t look at what really matters: a sudden, sharp deterioration of the global economies. The numbers we look at suggest that in September, the major economies in Europe and Asia started falling off of the cliff.