Energy Stocks Could Get a Lift From Opec

Talk is that Deutsche Bank is going down. Down hard. However it seems the bank wants to shout out that it has plenty liquidity left to see it through.

The share price would beg to differ. The Dax and DB share price were tanking today, until just after the US open, with a huge reversal that pushed the Dax up more than 200 points. Such turnarounds are not often single day events, and I’d expect some follow through in the morning. Eyes will be on the open and see if DB can show signs of buying.

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Energy stocks were pretty volatile too. Talk is of a cut in production of Oil, Opec seem to be giving way, although it remains to be seen whether they actually deliver on the talk. As always Opec are not in any hurry to stifle their market, even if it means pushing for higher prices.

Some shares were on the move. SSE in London was jumping around and testing investors at highs and lows. BP was also quite volatile, and looks like it won’t change that in the short term. There should be an enormous rally in energy stocks if Opec do decide to cut production. Which bodes well for the run in to the elections in a months time.

As I mentioned before, look at Gold on lead up to the election. It should give you an idea of how the traders see the result going. Gold rallying will mean Trump is in the driving seat. Uncertainty will push the stock market down, and money will pour into Gold no doubt.