I'm with oil down bet. I find it impossible to see large builds along with tepid economic activity and think anything other than a serious and protracted geopolitical event soon will support oil prices. Drawing attention to GS's call (I don't think it was GS, by the way, maybe MS), is sort of irrelevant since everyone has a different target now. I'm posting this now so you can come back and ridicule me if oil goes much higher over the next 4-6 months. Same thing is happening to nickel (demand destruction), but for different reasons: http://online.wsj.com/article/SB121923887967956537.html?mod=hps_us_whats_news Nickel's Slide May Go On; Oil Ends Up By Elisabeth Behrmann Featured in This Article: BHP Billiton, Minara Resources, Vale do Rio Doce SYDNEY -- A slump in nickel prices of more than 30% this year, combined with rising costs, has forced several operations to shut down or scale back output -- but that might not be enough to put a floor on prices. Producers of nickel, as well as zinc, are most at risk of becoming uneconomical because of a double whammy from massive price retreats and higher costs. Anglo-Swiss miner Xstrata PLC has said it will shut its 30,000-metric-ton Falcondo nickel operation in the Dominican Republic for at least four months because of high oil prices and the sharp fall in ...
lol. nothing cheers me up like reading this forum. spanish and buylow get ready to sell usd/jpy. its tanked overnight, so there will be some bad news or rumours coming out soon for you to sell on at the temporary bottom. dont worry the market is that easy to make money from, just sell when you hear the news. go for it, easy money
Wow. I missed the chance to get in this morning. What a pre-market move. Very impressive with only 66K volume. I smell a pump and dump into the ring open. Be careful here .
Whoooo Glad i followed my plan and too today off, since i didn't want to trade when oil nis behaving this irrationally! If oils hit 119 itl be selling tim now though.
K ive put in 2 sells, 1 at 119.71, other at 120.72... I see it falling back to ATLEAST $118.33 today or overnight. What oils doing at the moment is completely and totally irrational, and so when the excitement of this wears of and real fundamentals n logic come back in we will see the pull-back! All this stuff with russia casuing the price so go up is complete n utter nonsense!! LOL Russia invaded georgia 2weeks ago!! If that was gna cause a rise, it would have happend then. We saw oil prices going through the mid 25s t 30s before, and look what happend!! Every fool who claims to be an expert kept saying 150, 180, 200! I was the 1 shouting, no, sell off coming cos people cant afford those prices! And look what what happend.... When oil goes above the 120s people cant afford the oil. And when people cant afford oil, the oil price comes down. All you now need is patience, and to hope that some actual fundamentals come back into the market.