Whatever You’re Trading You Are Trading Oil

Yes indeed, it is that time again – time for another lesson in the meaningless, non-sequitor, chaotic, useless behavior of our markets. RISK ON – the market loves me and I love it or RISK OFF – the market hates me and I hate it.

Pick your flower petal and trade accordingly.

As crude oil has moved higher following the EIA data, gold has moved lower, along with the bond market which has dropped more than 2 full points off its best level of the session. The Yen has weakened as well although it remains in positive territory, and … drum roll here… of course, the S&P 500 has turned positive.

Make no mistake about it. If you are trading currencies or bonds or stocks, you are no longer trading them you are trading oil. OIL is what is determining every move in those markets.

Gold has fallen almost $24 off its best level at $1254 while the HUI has fallen over 9 points off its best level. If oil keeps moving higher overnight and into tomorrow, guess which way these guys will go…

It gets old doesn’t it?

Do not feel bad if you are having trouble navigating your way through this idiocy. Everyone is as well. There are days in which I think it might be better to just turn off the computer and waste some time playing Mortal Kombat instead of wasting time watching meaningless price movement generated by mindless machines.