Despite a weak economy and Detroit devoid of jobs, oil is trading north of $80. Think how lucky we are, to enjoy such prices, even though we have RECORD supplies of oil. Correct me if I am wrong, but don’t we have more oil now than at any time in the history of the world? To think, should this economy “come back,” oil will trade north of $400. Actually, if oil did trade up to $400, I’d enjoy it a great deal, as it would force all of you blue collar losers off the road, leaving it for the rich only—a gentleman’s pastime of sorts.
Once the rich are left on the roads, driving will become a privilege and an honour, once again—as it was intended by God. People will tip their hats to one another, as they ferry their respective families to far away park grounds, where picnics will take place. Granted, it might cost $500 just to fill up a tank; but it will be money well spent.
Additionally, airplane usage will be reserved for the wealthy, as fat fuckers with 10k in their 401k’s will be “X’d” out of the whole ordeal.
Frankly, thinking about the future of big oil gives me goose bumps. I might just buy a few oil stocks today, just for the novelty. Or, after seeing EDMC and LLNW rip higher, I might buy a Goldman Sachs holding, or two. I have the full list inside The PPT. Just to name a few: H, CVI, NPD, CIE, KAR…
Seeing the futures, we are set to rally at the open. It makes no sense, small boy, to ponder about these things, as the Federal Reserve has more punches for your scrotum. They do not care about dollars or family trips to the park. All they care about is QE II. They have QE on their brains, 24/7. When their wives ask them to throw out the trash, I am 100% certain they reply: “QE II, bitch. Throw that shit out yourself, ho.”
To be honest, I can’t wait for QE II. By the way, when rates start going up, how will the Fed unwind all of that paper they are buying? Wait, I know: QE III.
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FIG DOW 36K
Indeud.
QE ii is getting old.
http://www.google.com/imgres?imgurl=http://www.topnews.in/files/queen-elizabeth-II.jpg&imgrefurl=http://www.topnews.in/people/queen-elizabeth-ii&usg=__j9RwFffXXpTig2lK3GTS6kZiGwA=&h=521&w=417&sz=28&hl=en&start=0&sig2=7Bayi-_1PcZu1msWCNFl6w&zoom=1&tbnid=7teHXXJ4CGcSlM:&tbnh=120&tbnw=107&ei=RN2lTNjpJoaosQPK1amOBA&prev=/images%3Fq%3Dqueen%2Belizabeth%2Bii%26um%3D1%26hl%3Den%26sa%3DN%26rlz%3D1R2GGLL_en%26biw%3D1003%26bih%3D574%26tbs%3Disch:1&um=1&itbs=1&iact=hc&vpx=119&vpy=79&dur=31&hovh=251&hovw=201&tx=86&ty=133&oei=RN2lTNjpJoaosQPK1amOBA&esq=1&page=1&ndsp=19&ved=1t:429,r:0,s:0
Nice link, Dink.
Now, here, attend, as I have a link for you, too.
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BEHOLD : QE2 in 3 fucking D!!!
http://www.cbc.ca/documentaries/doczone/QE3D/
Picnic in the park….I don’t think so!! The rich don’t sit on the ground and have picnics! I will be served on the terrace of a chateau, thank you very much. I will enjoy these luxury activities with others who don’t go to New Jersey because we have too much class to be caught dead there.
I will hold court in the member’s pavillion of Augusta National. Perhaps I can be the first person to throw a pimento sandwich into the face of an unsuspecting patron at a future Master’s tournament. Dare to dream.
I recommend reading Robert’s post on energy consumption.
I hear the “rising rates” blue blazer speech. Why does it matter? Is the treasury living hand-to-mouth every month? Or are current payments linked to prevailing rates somehow?
Punches to the scrotum reserved only for those who short this market.
cock and balls formation definitely
Hello Fly, some old guy who looks like Jeremy Grantham was just trying to break into your office. He kept mumbling something about fire & brimstone, and fierce dust-storms. I think this post about QEII got him all energized. I slammed him in the side of the head with my “Box O’ Joe.”
I’ll believe in this shit when FRO makes itself heard but, until then, this market is drunk on Carlos Santana’s champagne, a blend mixed by drag queens in high heels and the most wretched perfume.
hahahahahahhahahahahhaha
To note, the days of supply for crude oil inventories is pretty much in line with historical averages. This is the ratio of crude supplies vs. the four-week average of refinery crude oil inputs. This is going back to September of 1982. Historical average is 23.5 days and as of September 24 we were at 24 days.
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPC0_VSD_NUS_DAYS&f=W
There is hope Fly.
AEM is the lagging major gold this AM (first time in days).
Any gold reversal today will tank it.
From wikipedia about QE2:
Highway 2 is the most important provincial highway in the Canadian province of Alberta. The stretch between Calgary and Edmonton is one of the most heavily used highways in the province, and is designated the Queen Elizabeth II Highway or the ‘QE2 Highway’.
The speed limit along most parts of the highway between Fort Macleod and Morinville is 110 km/h (70 mph) and in urban areas, such as through Claresholm, Nanton, Calgary and Edmonton, it ranges from 60 km/h to 100 km/h. During the winter time, accidents are common as the weather changes rapidly, and drivers underestimate the conditions. The worst area for accidents is the corridor north of Airdrie and south of Red Deer. Road closures are common. A sudden ice storm can create numerous accidents and pile-ups.
It’s a pretty decent highway however it does get ‘icy as fuck’ in the winter. If you are not used to driving on a sheet of ice then you will probably end up with your own special area of ditch.
You in Calgary too Bubbles?
City of Champions (trying to keep a straight face here)
Bubbles – I’m sitting under the High Level with a few buds who also bought RIM at $72
For the Canuckistanians, then, it’s my way or the freakin’ QEII highway, eh?
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and as anyone who’s lived in Halifax knows, there is a hospital called the QE2.
the link
I lived there for 3 yrs
Great people but Jan/Feb really got to me and I went to Toronto for a while before finally coming home.
I like it better than Calgary
Toronto is now most of Canada. I think they’ve got some nine million in the metro area. Third largest city in North America after New York and LA.
That’s a lot of people willing to freeze their bippy off.
_________
Yo! While I would like to think we have 9million in the GTA, it’s still closer to 6 mill.
We do have one of the largest urban sprawls in North America though.
but that ballpark is ugly!
and it looks huge on TV but in person quite the contrary …
The actual metro area is only about 2.5-3mill, the rest is just suburbs and it’s all lumped together under GTA (Greater Toronto Area). I imagine the weather isn’t any worse (in Toronto) than most places in the NE U.S., except maybe in Jan/Feb as TA mentioned.
Yeah, I think Chicago is still bigger
Used to be Detroit too but of course that’s no longer the case
That’ why everyone in Alberta is rich. We’ve already had QE2. Suckers!
An’ I thought it was the earl shales.
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If oil went that high, manufacturing would halt. Causing an out of control black tuesday, that i fear we would not rrcover from in our lifetime. Might alao trigger another world war. And possibily another era worse than the roman empire only to crumble to the hordes of barbarians.
The USA doesn’t manufacture anything and the Chinese have oceans of oil in reserve
Dibs on “Chief of the Visigoths” anyway!
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2 reasons oil isn’t what you think.
Price is ~high because China is still stockpiling in a major way. For their future war? Or due to current cheap prices (vs 5-10 years from now). Either way, their stockpiling of oil on a scale that boggles will continue.
Obama has been selling off the US stores of sweet light crude, and replacing it with sour, heavier oil. Trouble is you don’t have enough refining capacity for it. He does this to make money, and most people just look into how many barrels, without asking what kind. It’s a complete robbery of the US, and sets you guys up for calamity. “Strategic reserves” hahaha. whaaa…
I don’t think Obama spends much time selling off US oil.
Yeah, holding oil reserves hostage will really have a big effect on our nuclear subs.
They have those too. Whoopty-do.
In fact, China has more of them than the US. http://www.defensenews.com/story.php?i=4452407&c=SEA&s=TOP
They also have a 100 million man surplus = large standing army if needed (due to aborted females thanks to 1 child policy). They have a better plan for their space program, they can take out satellites, and they have significant economic might thanks to their billions slaves who work typical 100 hour work weeks. Good luck world. I know a guy who worked for ConocoPhillips in Beijing for 4 years. He has his kids learning Mandarin so they can communicate with their future overlords.
Not necessarily my position. Calgary is already half Chinese, so i think things will be taken over more gradually and peacefully.
Read closer…that’s conventional subs (aka, WWII era), good luck with them. And they’re still trying to get to the Moon…been there, done that.
No, your grandparents did it.
I’m not saying the US couldn’t possibly win a war with China, and am a huge fan of American ideals. The constitution, liberty, free-markets (lately not as impressed). I am saying that it would be very very ugly on both sides if it did happen. They have a nuclear arsenal too, and stockpiles of lots of industrial materials. They are the number one synthetic diamond producer, they buy almost 100% of the Uranium output from the Athabasca basin, They are buying up oil and metals like crazy. They are the only country with significant production of rare earth metals, etc. Best high-speed rail network on Earth, building the biggest ice-breakers on earth… I could go on.
To conclude, they are not the backwards rinky-dink communist country a lot of people think of, and their global position grows significantly stronger all the time. Personal freedom, political freedom, environmentalism, yes there are problems. But meh, whatever foils the bilderbergers.
It’s the high speed rail network that keeps my up at night.
________
I would like to see both of those points in writing from a reputable source …
I am the reputable source.
Very easy to google about a zillion sources fool.
http://www.marketoracle.co.uk/Article11469.html
http://thefraserdomain.typepad.com/energy/2006/04/middle_east_sou.html
http://www.chinadaily.com.cn/bizchina/2010-03/09/content_9559659.htm
QE is not a done deal. They said they would act if the stats showed they needed to. The stats haven’t been that bad in the past few weeks. M2 has also been rising and bank lending turned upwards a little.
Best September in 71 Years!!! QEll is fun..stocks are becoming patriotic again.
10-10-10 What does it mean? Is it Free?
Oct 10 at 10am – Hub Network (Hasbro)
http://www.hubworld.com/
I do not know the newest numbers, I just guess:
98 % $ bears
2 % $ bulls
the bid/ask on about 30 oil and gas stocks I watch were all flashing red in unison
cool stuff
and——-poof.
Has anyone ever been punched in the scrotum?
Just curious 🙂
Here is a video of Angel’s ball player Ayber swinging at a pitch yesterday and the ball hitting him close to home (if you know what I mean).
Does this count?
http://sports.yahoo.com/video/player/news/Sports_Minute/22196424
Also there will be very little pollution. Therefor everyone will have their windows down or drive convertibles and say things like “good day to you, sir” at stop lights.
Don’t forget — “Have you any Grey Poupon, siiiiir?”
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They also say things like, “Hey, weren’t you the asshole who almost ran that family over and cut us off getting out of the church parking lot Sunday?”
1 The LORD is my shepherd, I shall not be in want.
2 He makes me lie down in green pastures,
he leads me beside quiet waters,
3 he restores my soul.
He guides me in paths of righteousness
for his name’s sake.
4 Even though I walk
through the valley of the shadow of death, [a]
I will fear no evil,
for you are with me;
your rod and your staff,
they comfort me.
5 You prepare a table before me
in the presence of my enemies.
You anoint my head with oil;
my cup overflows.
6 Surely goodness and love will follow me
all the days of my life,
and I will dwell in the house of the LORD
forever.
Pulp Fiction? Royal with cheese anyone?
No, fer craps sake. The Pulp Fiction one is the “righteous anger,” etc. Not quite sure what he’s quoting there, but not this.
This is just good ole “Psalm 23” — often bruited about in times of fear or trouble. One to keep with you.
__________
Or a lucky rabbit’s foot – same diff.
how lucky was that rabbit?
….or the Muslims, Jews, Slavs, etc. during the Crusades.
Irrelevant.
The luck is (supposedly) to the bearer of the foot. What is you, igna’nt?
Actually the quote Samuel Jackson uses in Pulp Fiction is almost Biblical but not quite.
The whole ‘righteous anger’ bit is a pure QT addition.
The path of the righteous man is beset on all sides by the iniquities of the selfish and the tyranny of evil men. Blessed is he, who in the name of charity and good will, shepherds the weak through the valley of darkness, for he is truly his brother’s keeper and the finder of lost children. And I will strike down upon thee with great vengeance and furious anger those who would attempt to poison and destroy my brothers. And you will know my name is the Lord when I lay my vengeance upon thee.
I believe that’s all from Ezekial 25:17 (thanks Google)
_________
Not quite:
Ez 25:17
New International Version (©1984)
I will carry out great vengeance on them and punish them in my wrath. Then they will know that I am the LORD, when I take vengeance on them.'”
That’s just a different translation.
Your is from the St. Canuckistanian Bible.
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WTF are you talking about. When oil goes to $400, I will be glad you won’t be on the road.
If oil hits $400, it will be more like Mad Max than the gentry banging servants in the back seat. Unless they are armoured limo’s I suppose. Or Tesla model S’s.
Invocation of the Eye of Horus
“Come thou, come thou in peace,
O glorious Eye of Horus,
You shine like Ra in the double horizon,
And Set’s power hides itself straightway before this eye,
Which seizes it, brings it and sets it upon the seat of Horus.
The word of Horus is Ma’at by reason of this eye.
I am pure, I am pure, I am pure, I am pure.”
Horus? Horus?
He doan’ even KNOW us!
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Market feels like a circle jerk today…no golf, it’s raining here, no Ryder Cup, it’s raining there.
Wish I was at the Celtic Manor, been there before, awesome venue.
They like to goose it on Friday to make sure it goes up on Monday.
Trying out Jake’s trick with links:
click here
Very nice!
Tell everyone how easy it is… then we’ll be spared the message junk.
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Ohhh boy. QE3 … ??!!! I can hardly wait.
BTW. Loving that Goldman screen inside the mansion (PPT)
There is a reason why I never get involved with the first hour of trading….it is always so silly. Futures were up cuz of that lame Eur/USD rally last night, but ACB’s can only push it up so far….and yeah, with the huge disconnect of supply to demand in Oil, Copper, etc is why I am just stupid bearish, bubbles always pop, learning how and when they do is priceless….anyway, the JPM Global PMI was not sweet at all today…CNBC, etc doesn’t follow it much, but I have noticed in previous months the players seem to crush on the results…. http://www.markiteconomics.com/MarkitFiles/Pages/PressCenter.aspx
QE II Biatches! Nuff said…
There is a tipping point coming http://www.zerohedge.com/article/federal-reserve-balance-sheet-update-week-september-29
May I make a recommendation and start buying gold and silver, before you miss the bull run over the next two to five years?
I am trying to find a place to sell a 10oz bar I bought at $450 and 10-$50 Golden Eagle coins I bought at $650 and oz. I really didn’t think about the liquidity factor of holding the hard stuff.
You paid $650 for a $50 coin? You got ripped. 🙂
Try EBay or bulliondirect.com, or your local coin dealer.
Look at the gold and silver charts for the last 10 years. Nothing but up. Why are you selling?
QE II or not…
IT’S A BULL MARKET, YOU KNOW
Oil trades where the PTB want it to trade, no matter how high the supply or low the demand. Logical trades, e.g. according to supply and demand, are the worst money losers. Logically, all traders should have been short REITs all year.
BTW, guess what’s been happening at the Federal Reserve? Just what you always suspected, that’s what..
http://www.reuters.com/article/idUSTRE68S01020100930
“Actually, if oil did trade up to $400, I’d enjoy it a great deal, as it would force all of you blue collar losers off the road, leaving it for the rich only—a gentleman’s pastime of sorts.”
HAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Mad Max.
I would like to propose we think differently for different time fractals – http://ibankcoin.com/king_of_the_pg/2010/10/01/attention-%E2%80%93-the-king-is-leaving/
All noise.
Guys, you need to focus. This market is destined to go higher, given the QE2 threats, wave 3’s, M&A, cash on hand, b-b-b-b-boo yahs, and all that jazz, included.
QE 2 is giving me a migraine. Please don’t mock me by putting up that avatar again.
The Bearded Clamfolker
Anybody else get fucked on LQD today?
In honor of Flash Crash Report….I was Tweeting at the time…..ACTUAL TWEETS….I was Tweeting at the time of the Flash Crash…
There is NO error…we always have a POP either down/up that time everyday..program trade I can set my watch too
12:53 PM May 6th via web
Delete .
@CreateCapital lol, nope I am almost green across the board…AUY,SMN,FXP,DRR …which means stock gods will hurt me tomorrow
12:43 PM May 6th via web in reply to CreateCapital
Delete .tobinsmith Great question: did high frequency/algorithmic trading create the 900 point downspike by autoselling baskets on same stocks…YES!
12:15 PM May 6th via TweetDeck
Retweeted by you and 1 other
Reply Retweeted (Undo) . Cute Program Trade on SMN minute chart…wiped out so many stops….
12:14 PM May 6th via web
CNBC: Tea party bad for business?…Yeah, I guess stopping the wars would be a drag on GE earnings
Bad for big business… fascist clamfuckers!
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SMCI just had a flash melt up …