The David Lin Report 'It's Over': Strategist Reveals Which Assets Are About To Crash | Mike McGlone
Apr 27, 2026
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, offers quick takes on oil, metals, crypto, and volatility. He discusses why crude might tumble before midterms and how commodity rallies often fade. He links copper and Bitcoin fortunes to stocks and warns gold and silver may be overstretched. Short, sharp outlooks on inflation, demand destruction, and EV-driven shifts in energy use.
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Commodity Elasticity Means Rallies Reverse Quickly
- Commodities show high elasticity: big rallies trigger supply increases and demand pullbacks, so prices rarely stay up for long.
- Mike McGlone cites U.S. natural gas spiking to ~$7 then collapsing to ~$2.5 and says crude rallies prompt producers to add supply, driving prices lower.
Position For Lower Crude By Midterms
- Consider shorter-dated crude positions; look where the puck is going instead of current front-month spikes.
- McGlone expects December WTI near $77 and closer to $50 by midterms because U.S./Canadian supply expansion and policy motivations will lower prices.
Big Oil Bets Can Blow Up Fast When Elasticity Kicks In
- Rapid commodity rallies can wipe out bullish funds and traders who ignore cross-market signals and elasticity.
- McGlone references Pierre Andurand's fund losing 52% in April after bullish oil bets failed as an example.
