Exactly my point. A couple of months ago any one of those headlines may have moved oil to the upside, but NOT by $16 in two days. Last week was a perfect setup for a short squeeze and only needed a spark to light the fuse.
It walks like a bubble and quacks like a bubble, it is probably a bubble. Check out the long term chart of the price of crude adjusted for inflation, and you'll see what I mean. It dwarfs the oil shocks we saw in '79 and the Persian Gulf war. I have no inside info on demand/supply but I do know that those who have said before "this time is different" have always been wrong, about any market... gold, silver, real estate, etc.
supply isn't exactly flooding the market at these prices and demand has only recently started to drop off significantly.
More blog pimping rr? How's disgusting. Always an agenda with your pathetic ass. Foks, here is the true rr/babak caught in his true weisel form: -------------------------------------------------------------------------------- Quote from Mr. Gates: 1) You repeatedly emailed a successful website operator insisting he tell you his methodology for making winning trades. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Quote from Babak: Everything you have said is absolutely and categorically false. You really have a talent for lying -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Quote from Babak: afford me the opportunity to set the record straight. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Quote from Babak: I don't have the time to go into each one -------------------------------------------------------------------------------- He wanted to set the record straight, then "didn't have time" to do so. Running like a chicken is his specialty. http://www.elitetrader.com/vb/showthread.php?s=&threadid=113651&perpage=6&pagenumber=15 rr/babak loves to get free info and help. But when he doesn't get it, he has no problem smearing and slandering. What a guy!
A clueless one too lazy to start sentences with capital letters, yet oh-so rigorous in his due diligence. Hello ignore list.........