/biz/ - Business & Finance

>>17645041
Production alliances that have existed since 2016 completely fell apart on Friday and there was no resolution over the weekend. OPEC wanted Russia and the rest of the non-OPEC countries to agree to cut production to prevent the price from crashing due to very low demand from Corona impact on industry. Russia refused to agree. Saudis had to slash their monthly price. Now it's a price war with everybody INCREASING production. Russia told its producers to "pump at will" starting April 1st.

I was long on oil up until Friday as I expected Russia to come to terms with OPEC during the meetings in Vienna last week. When those failed I immediately had to eat the loss and get the fuck out. This outcome is why.

>>17323822
It's a trap to use fundamentals to try to call the top of meme spike. Mainly because the thing can continue all crazy for a lot longer than you'd think, and hope to god you haven't bet on a downturn with short term options set to expire before the bulls come to a stop. Fundamentals are more effective, but not very effective even in this case, for calling an eventual bottom after the big sell off.

>>255691
>scrypt asics are actually out
I had a feeling that was the reason. Might aswell hope scrypt-n is the savior or I could just aswell sell my rigs.