With oil careening lower today, now trading $75 WTI, US markets rejoice. This is a major and seminal shift in sentiment. Just two weeks ago, we panicked at the specter of the Bakken shale becoming a dust bowl again. Now, people are seeing the bigger picture.
Fuck oil and to hell with OPEC.
Let oil drop into the dirt. Each penny gasoline declines, the US saves $1.1 billion in fuel expenses. Heading into the holiday season, you cannot ask for a bigger and better and more immediate tax cut.
Let’s go over who wins, once again.
DPZ, PZZA, BWLD, COST, WFM, M, TJX, JWN, GME, GPRO and of course AAPL.
If you go long that basket and oil continues to plummet, I promise you will not be disappointed.