If you understood how complex and immense the futures markets are you would realize how absurd your conspiracy theories seem to people who actually understand how things work. It's just not possible for the government or the oil companies to control prices in the long run. They can do and say things that will affect short term prices, but over the long haul price is determined by what we know as "the market" and goes up and down based on the aggregate buy/sell decisions of major oil companies, individual investors and the massive and mighty hedge funds that do not give a shit which way the price goes as long as they can make a buck from the movement. The trend is your friend and the long run trend remains up, so just keep all of this in mind before you go blaming the majors and our government and making yourselves sound less than credible... Sorry if I sound condescending, I don't mean to, but having worked in this industry I am confident it cannot be the case.
probably you don't understand how market works. everything is decided by the government. They can change rules and forbid cash trading. Let's assume only those who can accept oil delivery wil be allowed to buy what will happen? Oil will be in 20s in one week If you don't believe try to remember Thailand - change in Government regulation crashed market for around 15% in one day Currently US administrations is controlled by big oil but this can change. It has already changed. Exxon wanted $100 oil although they were suspended in their wishes Us government started Iraq war to inflate oil prices. Without current president ol would still be in teens Oil market is completely controlled by the government. It's not a concpiracy theory it's a fact Market forces as you said can only work temporary. On the long run only gornment decides where prices will go
Okay, regardless of the government, your certainty that oil would not go beyond 60 appears to be incorrect based on current prices. As for using technicals versus government conspiracy theories (or facts), we can all see the technicals but we don't all work for Bernanke or GWB. That's why we use technicals.
kashirin... you need to speak up the din from the black helicopters (and your rice crispies) is drowning you out. lol. just a little hint: the govt. does not control oil prices.
Which "market" do you have in mind? The "100 people" that Cramer was talking about in Tim Russert interview? Or some other market?
I recently registered here and have been reading many of the different forums, and was fairly impressed with the overall credibility of most posters, then I came across this jewel. Is this guy for real? He can't possibly be trading with real money using that logic can he?
Yes I was wrong here. Although the price action was driven not by technicals but by fundamental factors again. Oil field closed - $1.5 up. Oil field reopened $1 down I won't hide I also use chart when I decide to trade but only when I check all latest developments and if I trade I stay near computer as currently you must trade both sides intraday to make money and your targets must be flexible
Cramer is an idiot who appeals to low level investors without real market knowledge. The experts all think he's an idiot and discount what he says (even his fellow CNBC anchors!). He's right a lot, but he's also wrong a lot--tends to happen when you constantly put yourself out on a limb constantly (and consequently put your foot in your mouth with every other statement). The market I am referring to is the one that traded 142,099 contracts in J so far today...that would make for a cool 1,400 or so contracts for each one of these 100 people--not likely.