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OPEC Meeting Fails To Limit Production And Oil Drops Anyway (Here Is Why) – Mike Swanson (07/07/2021)

Yesterday, before the opening bell, in stock market news for today, an OPEC meeting, failed as talks collapsed among members seeking to limit oil production. That is bullish for oil prices, however the price of oil gapped up on the open as the NYSE opened and then went red and most energy stocks followed suit.

Why?

In this video I explain how this type of action is fairly commonplace in stock market trading and how it might happen again in other stocks in a few weeks.

One of the key concepts of stock trading is that traders buy the rumor and sell the news. They look to get out ahead of positive news releases by companies and sell before bad news hits and is obvious to everyone. When it comes to stock trading front running coming news can be a viable trade. It is one of the reasons I chose my top stock pick for this month. To find out about it click here.

-Mike

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