If speculators are to blame for the run up in oil, should we not praise them for liquidating positions sending oil down?
How is your pension plan now mr. smarty pants? Good job putting hard earned money into commodities at a potential top.
More importantly, how does your bottom go?
Will this be a V, W, or U shaped bottom? So far it is starting off as a V. Tomorrow I predict a test of 1239-1244 S&P and then a surprise rally into the close.
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This is the funkiest[sic] rally I’ve ever seen. Bank stocks trading like Chinese Burrito solar stocks there is some major manipulation going on right now. The action in JPM, WB,LEH, is plain ole retarded. These fuckers are going to unwind one tranch one Qtr. at time.
Oil seems like a head fake to me…another words Donny should take some profits. Maybe its sell Oil to cover for the banks how bout next round sell banks to buy Oil. Is the $ getting any stronger?..I’m sure T-Bone we’ll decide where he wants to pitch Oil.. $150 or $100…. so far the recession has been pretty painless.
Shores [sic] is mrkcbill…ilika [sic] dem [sic] borreetos [sic] mrkcbill…
Now if there is any control our government has it is oil and the dollar. T-Bone gets told where it goes….I’m still thinking $110-$115 oil soon.
If no hurricanes blow into the Gulf we get longer sideways action…developing.
Painless is relative. Someone is hurting. Not you or I, but a lot of someones are.
Ha , Praise be the speculators! Turned out the real speculators were banks, brokerages, mortgage cos & the Fed, all playing with OPM, taxpayer money that is. They thought, ‘hey we CAN’T lose, the taxpayer will backstop us’. What a country!
Oil may bounce a few here, particularly if the Iran situation heats up but its going lower. I’m thinking a test of the 200dma around 110.
The US & Iran are playing nice now for gamesmanship reasons. I don’t trust either of them.
Juice,
Seems like you can see for miles. I agree with you.