on cnbeecee today maybe they are lowering it to screw the US fracking companies which opec country members are sh*tting bricks right now anyway, yes big puts was the story.
Haha oil near $50 Feels so good... Once it breaks $50 things are going to get interesting ... Funny thing is no one...not one person predicted oil dropping below $75.... No one ever predicted this...everyone on cnbc in early 2014 had price predictions of $75++++ I have said many times over that oil was in a bubble and that it should only be trading at $30-$40 a barrel.
One of my posts from November 2011 predicting QE3 and $40 oil... S2007S 14,388Posts16Likes Im waiting for QE3 to come a long, all its going to take is for the SPX to drop below 1000 and BUBBLE ben bernanke will release QE3.....without the propping up the economy in the last 3 years oil would be sitting comfortably under $40 a barrel, gas at the pumps would be 50% cheaper than it is now. All I have to say is I will be shorting oil around $110+ if it does get there with SCO....oil prices at these levels cannot be sustained, we have seen this time and time again, even if oil does rally to $120, $130 or even new highs above $150 the drop that would come next would mimic 2008 where it would literally collapse within weeks of touching highs, the global economy cannot sustain itself with high prices of oil and right now it looks as though its happening where something is going to give. Even if you do short oil here there is minimal risk in my opinion in that there is more downside than upside in oil. Nov 15, 2011Report
And back to reality. You predicted more QE in 2015 ( won't happen ), and totally missed the boat on the easiest trade out there ( long US market indexes from 2009-2013 ). Many expected Oil to drop back eventually, picking the correct shorting price a little harder to do then you state. None of this would matter if you weren't perpetually boasting about what you think you are getting right now, and that NOBODY saw it coming. Well, several analysts I've seen in Canada had been suggesting cheaper Oil. Guess you missed that. Morgan Stanley predicted I believe $43 Oil several months ago, just throwing that out there in case you think no major US houses were forecasting this move. I don't follow Oil closely, I'm just refuting your repeated claim that no one saw this coming.
Show me some links of articles of at least 5 predictions of oil predictions under $50 I don't know about you but about 99.8% of the fools on cnbc had oil predictions well above $75 for all of 2015..... Oh and a drop to new 52 week lows on the dow s $ p and nasdaq will bring the fed in to make QE 4 happen over night, if worldwide markets start to fall into bear markets watch how quick the central banks step in to prop them up, QE4 will arrive again. Any tick up in unemployment any drop in earnings, any threat of a bear market or black swan event and you will be sure the fed and the other central bankers around the world will do QE to prop up the system once again.....
Why is Crude Oil so expensive? We are so gullible and use to paying so much, big oil companies been screwing us for years and when they say bend over, we just take it. If bread went from 95 cents in late 1990s to $14.70 few years ago, would the entire nation be on front lawn of Congress? You think the guys who are at the wells making 14 times wages few years ago, LOL. Just the calm before the storm and they will stick to us at $200 barrel one day.