the above post was for 1981 when oil hit its high...coincidently interest rates were over 16% that same year.... http://www.federalreserve.gov/releases/H15/data/a/fedfund.txt Its unbelieveable that we havent been hammered yet. The interest rate tsunami is coming and while you all are on the beach im heading for high ground (selling my house) and i'll wait for the water to clear before buying myself some cheap beachfront property.
"We need to have oil come off a bit for the market to keep moving" higher, said Todd Leone, head of listed trading at S.G. Cowen in New York. "Once we start getting closer to $60 a barrel, it definitely hurts the economy -- it gets a little inflationary." Anything below 60 is GREAT. If oil can pull back a dollar this week the market will rally like its 1999.
Does Todd Leone even know what the front month is for Crude? In all seriousness, what is the last day to trade July eMINY Crude? I know CL rolls over this week. Does anyone know when QM rolls over since it is cash settled..... not physical?
Ebo, Tomorrow (Monday) is the last day of trading. Here is the termination schedule for future reference: http://www.nymex.com/jsp/markets/lsco_emi_termin.jsp It looks like the cutover from Globex to Clearport is working. I've been trading QM on IB via Clearport tonight. There were some problems with the quotes in the first hour or so but it seems to be fine at the moment.
only $6 to go. And for those of you who believe high oil prices are a sign of a strong economy I say this to you .........."its inflation and subsequent higher interest rates which bring markets down......regardless of how strong the economy is because markets look to the future not the present.