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Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

“….. Could be as high as 15 Million Barrels. Good (GREAT) news for everyone!”
- President Pump

Haha! I sincerely love it when he goes ALL CAPS on something that’s moving the market. Whether you like the guy or not, he’s really good at it. In terms of having short-term market impact, I mean.

Quite seriously, he might be the absolute and very best, ever, at it.

Forget the 10M barrels (or less) that Putin or his central-planning peeps didn’t discuss with the Saudis, Trump just made up the 15M number and went ALL CAPS with it. Oil/Energy markets raged, like only bear market bounces can, to the upside.

Now what?

Well, I’ll give you a 3-part answer within my refreshed $18.68-27.34 @Hedgeye Risk Range for WTI:

A) Economically, both the USA and the World is still in DEEEEEP #Quad4 (using 5 E’s because Pump used 5 DOTS in the tweet)
B) Quantitatively, all that intraday +30% bear market ramp in the Oil price did was perpetuate epic Oil Volatility

CHART OF THE DAY: President "Pump" Is Perpetuating Epic Oil Volatility - 100