A one-day oversold rally didn’t do the trick for bulls as Friday’s reversal was severe.
Currently markets are marching lock-step lower with oil markets.
Some are calling for $20 oil in the near future which, if it happens, would devastate both small and roulette online large producers alike.
Consider all the debt exploration and producing company’s carry and bankruptcy would occur trickling down thru the financial system. What could stop this from occurring is an intervention by OPEC producers and even a war between the Saudi’s and Iran. The latter would quickly see prices explode higher.
Thursday’s bizarre oversold short squeeze rally saw no follow-through Friday but the opposite