48% of Crude positions held by speculators. One trader holds 10% of OI

But only 44 out of 1,000 Chinese have automobiles . . . Just wait!

 

So putting on these spread positions doubled the price of oil? Taking off spreads will cut the price by twenty percent so far?

The drop in oil had nothing to do with massive change in public opinion as to what kind of car to drive and how much to drive it?

Some people seem to be just dieing to prove that capitalism is a destructive force.

If the guy was fraudulantly posing as a commercial, then there are laws against such things. Simply enforce them. Saying that speculation is bad because a spec committed fraud is like saying banks are bad because they are occasionally robbed.

Do away with them banks! lol

 

Yea just wait until the yuan strengthens and walmart starts buying everything from Mexico.

Do I need to mention per capita *urban* Chinese income at $1500/yr, with 35% of that spent on food? (leaving $1000 for rent and gasoline)

There is a price that *does* break the bank.

 

Suppose 48% is held by speculators. We could flush them out with a well placed and thought out rumor (or several).

Calm a market fear, add a certainty. It only needs to be bullshit and let them run for the exits.

 

Heard a rumor yesterday that a spread position that accounted for 20% of the OI had been reclassified by the CFTC as non commercial going back to last year.

 

Problem is, the urban Chinese farmer has been getting "bulldozed" over at an astonishing rate the last 3 years. New cities the size of San Antonio are springing up at a rate that blows you away!

As for Mexico, they run out of oil in 8 years based on their current levels of production ( that peaked in 2005 ) because their government has REFUSED to allow foreign companies in to help them explore for oil. The government continues to suck PEMEX dry ( which has something like $50 billion in debt ) and is quickly becoming a "black hole".

Guess who the #3 exporter of oil to the U.S. is???

:eek:

Back to trading folks . . .
Great action in the oil sector this morning . . . Up and Down!

 

It was probably semgroup?

Or pickens?

 

Thanks for the article

 

Where are all the jackasses that were here saying the oil market was not manipulated?

 

I said it was manipulated and many got a little touchy about that subject, just look it up in the search button, you will see. I said it was totally manipulated and Landis kept telling me something about "conspiracy" theories.


HMMMMMMM.