Short CL 10,000 per contract as Bush Will stop buying for OIL RESERVES!!

Discussion in 'Trading' started by BlueStreek, Mar 13, 2008.

  1. LOOK FOR oil to quickly drop to 100 to soon to get in if you are not already in position!
  2. When was the last time the govt was in buying crude for the SPD ?
  3. They have been buyers all the way up from the 80 dollar range!
  4. Do you have a link to a news story detailing their stepping in ?

    Thanks in advance!
  5. In a fairly quick web search I found a lot of stuff about how the govt halted adding to the reserves in 2006 but nothing in 2007 or 2008 which says they've been buyers up at these prices.
  6. just some trial ballons being floated around, but these are not by accident washington does this all the time, sends out warning signals so market participants are not completely caught off guard!
  7. What do you mean by trial ballons? Do you have anything tha shows they've been buying all the way up from 80 like you indicated earlier and why would they be stepping in at these levels ( over 80 up to 110 ) ???
  8. tetuan01


    So, this being ET forum, I need to go long oil.
  9. I don’t trade crude and no one at our firm does, but I sure know plenty of people who are in the crude options pit who used to be on the floor in places we had guys in the 1990's and early 00's.

    Granted I was kidding around a bit but the gov't is not supporting the price of crude, which appears to be what BlueStreak is trying to indicate. Market manipulation theories always run ramped on ET, they’re entertaining
  10. They just buy to sure up the reserves, but this being an election year, and prices getting "politically too high" boom they step in to give relief......just like stimulus plan, mortgage bailout plan, its an election angle here, but trying to anticipate a potential market event ahead of time!!!
    #10     Mar 13, 2008