If you time this right, this is where big money are made. I'm short 2 CL contracts at 138. Money I made in SOLF will pay for the hurting I'm about to receive from this short. LOL.
Just thinking if a limit move is $10 then it will take 1 year to reach $2000. Thats my forecast Oil will go up forever and the SP500 is going to zero. OK close to zero its got some Oil stocks in it. Seriously though I smell blood someone is in trouble!
You are looking at the electronic contract. Limit is $20. The ring traded contract is $10 for five minutes then is expanded another $10 (in either direction) after trading starts. Essentially there is no limit. "If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $10.00 per barrel in either direction. If another halt were triggered, the market would continue to be expanded by $10.00 per barrel in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session."
I told everyone that this bullshit with crude was going to crush the equity markets. I don't care that I was right or wrong, but there's no doubt it's happening in front of our eyes. Now the question becomes what the hell is anyone going to do about it, because this is a crazy ass, serious, damaging situation we are facing. We have an incompetent federal reserve; that's apparent. Bernanke went two or three cuts too far, and this is what incompetency brings you. I won't even get into the every other incompetent branch of our government.
I mean really, isn't that the whole point on the Street. Make money any way you can as long as you can't be charged. (Of course a few screwed up and got caught, but most just moved to the Hamptons.) As long as you as a trader understand how it works and stay out of LaLa land, you're fine.
Yeah, and at this rate I guess he wants the ENTIRE FREAKING AIRLINE INDUSTRY to go belly-up and all commerce as we know it to stop dead in its tracks. Thank you Phil Gramm Thank you Wendy Gramm Thank you George "Dumbya" Bush
no, but they are saber rattling. I wouldn't be surprised if oil went down after Israel attacks Iran. "Buy the rumor, sell the news."