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And that is why Chuck Schumer ( Senate Finance and Senate Banking Committee ), Larry Summers, Michael Bloomberg, David Paterson, and Hillary Clinton will never allow this to happen. It would kill the NY metropolitan area.

I never said that the entire run was DIRECTLY linked to the Israeli mission. But if you traded ( or watched ) crude oil last Spring and how it traded during the months of April, May, and June (into the early July peak), you would have come to the conclusion that a major oil producer was...

It must be the BEST kept SECRET in the world, don't ya think? ( as opposed to last June/July when everyone in the world knew ). Crude oil is in the $35.00 handle. An Israeli strike on the Natanz nuclear facility is not gonna happen - - - not now.

Agreed 100%

Yet another alias on ET coming back from the dead . . . Only your 2nd post since Sept. of 2007??? Give me a break. I really wish that Baron would stop this crap that allows people to "park" screen names only to use them at a later date as one of several aliases. Coward.

Agreed. There is a Bradley Cycle coming up on the 20th/21st. However, I must point out that the Bradley has not had a very significant track record as of late.

I know, I noticed that too! A lot of very intelligent posts started coming in around the 9th inning.:D

Huge amounts??? You've got to be kidding. From August of 2007 to March of 2008, there was an addition of only 10.8 million barrels, with another 6.9 million barrels to be received between April and July of 2008. 17.7 million barrels represents 0.06 % of total oil consumption over a year...

The "apple" does not fall too far from the "tree." And therein lies the problem my friend. We must educate!

My vision of a high school level ECON course would be more like a "Money and Capital Markets" class. In this way, people would learn the basics about interest rates, mortgages, real estate, laws of supply/demand, the basics of Fed operations, how an integrated oil company has downstream...

This is not U.S. History we're teaching. Last time I checked, the laws of "Supply & Demand" have not been repealed. Highly quantitative, in fact.

No, not at all. With all due respect Ivan, your "logic" would dictate that the blame should go to Israel. http://www.bloomberg.com/apps/news?pid=20601104&sid=a1jvjJlVO2tc People were simply "trading" and "hedging" and behaving as if a MAJOR oil producer (Iran) was about to go "off-line"...

Excellent point Pabst!

Excellent post Dustin. I'm in there too. :) P.S. Check out the post by Pete from Orland Park, Illinois just below yours. :D Post #212 is excellent too!

Thank you Nielsen. And for what it's worth, Larry Summers may have supported a transaction tax some 20 years ago ( in response to the '87 Crash ) but more importantly he does not favor one now.

The S&P is heading back into GREEN just ten minutes before the close! :D

These INTRA-DAY quotes are calculated based as if every single stock in the SPY is trading at its low, are they not? Perhaps a bank stock or an oil stock or two that got crushed on the day in question and that is what facilitated such a deep print?

Leave my Suzi SUV out of this Pabst! :D

Such legislation doesn't just tax TRADERS, but also INVESTORS . . . . with the twisted DeFazio "logic" of having to create some way to raise revenues in order to pay for the $700 billion dollar "Wall Street" bail-out. As a result, the "Little Guy" gets screwed as well ( unless they impose...

Agreed 100%. Our kids and the many Adults have no clue when it comes to basic Economics . . . they need to make this a MANDATORY one-year curriculum at the high school level.