There were a few major headlines over the weekend that it seems the oil market has missed. Iran and Opec are both stating that they would cut output in order to stop the fall of oil. Niger and Venezuala are vowing to cut as well. Im looking at the electronic trade oil ticker and it seems like its taking a big yawn at this big news. Down 27 cents, not even up slightly. 6 months ago oil would have been through the roof on such headlines. Yep. Oil is nothing more then a speculative trading instrument where the traders simply bidded it up way too much. My biggest disappointment in myself was for not shorting Ethanol. I am going to take myself out to the woodshed for punishment.