November 13, 2018 US Market Recap

and for the entertainerssssssssss:

THEIR MILKSHAKES ARE BURNING IN THE FIERY HELL THAT WAS FORMERLY KNOWN AS CALIFORNIA

Small Caps suffered a 'death cross' today... (the last death cross was Sept 2015, which did not end well for the bulls)...

Chatter of a commodity fund liquidation did nothing to help what everyone hoped would be an excited dip-buying opportunity in stocks today...

As UBS points out:

"There are also speculations that the move lower could have been caused by redemption ahead of the year-end cut off of the 15th November and that a large hedge fund had about 50k lots to liquidate. Considering that the sell off resumes as I write, it might have just be the product of someone's imagination."

WTI Crude collapsed for the 12th day in a row - another new record - crashing on Saudi production data (biggest daily drop since Jan 2015)...

Brent is down 24% from October highs...

Bloodbath...

In case $54.75 (lows today) is too rich still for your blood - how about some Western Canada Select Crude - which traded at a $15 handle today... AND THE REVER RENNNDDDD PROCLAIMS IT SHOULD BE USED TO HELP CALIFORNIA WILDFIRES

And notably WTI priced in silver has tumbled at key resistance...

And Silver at its cheapest to gold since 1993...

In case you're thinking of buying the dip in WTI? It has never, ever, been more oversold...

And oil vol has exploded...