Sir...sure,I understand the overall "confirmation" of my post being over huge amount of time...But...when I write "confirmed" what I mean is "as of this very moment" and "since I made the statement" $135.00 Oil has not been hit...thus confirming the statement...thanks for your interest...are you bullish or bearish on Oil Sir?
20 reasons why Oil to NEVER hit $135.00 again...dated: May 22, 2008
- Thread starter increasenow
- Start date
right on Man...and $65-$85 a barrel Oil is next...seriously...Quote from spidey:
Demand is going to fall sharply in the USA, it's already happening. China and India are going to drop their subsidies. If Americans can't afford $4 gas, how can a Chinaman or an Indian? Saudi Arabia is going to expand production, more oil will come on line in a few years. Indians driving $2500 cars cannot afford $10 gas. Cheap gas will return
I'm sorry but you used the word NEVER hit $135.00 again, what you should have said was you believe $135.00 to be an intermediate top or something along those lines. Perhaps in the future you will learn not to use absolutes like "definitely will" or "never will" when describing the markets and, if you do decide to use them, you'll let more than a day or two pass before getting all giddy, ok sweetheart?
Sir...I must humbly disagree with your point...yes, I used the word NEVER and yes it has not hit $135 since I made the statement ..so...the statement is confirmed to date--that is my total point of the confirmations daily etc....thanks again for your great interest...!!!...you gotta love CL!!!
Quote from rubibond007:
The big physical traders made their money with the basis (The difference between cash vs futures prices). Right now, the brent cash price is about $128.65 and the Brent futures at ICE is trading around $131.38, is a $2,73 dollar per barrel what those Physical traders are making when they buy brent crude (which is not much in reality), and they are traying to maximize this basis margin by manipulating the ICE future contract. (Brent Crude is the price reference for 2/3 of the worlds oil.)
spot price today.
Take a look at this article. (the hedge Funds are puting their hands on the physical market).
http://www.bloomberg.com/apps/news?pid=20601109&refer=news&sid=a5ReSgLY0jAE
finally, the're are a lot of reasons why the Brent can trade at premium vs The WTI, but in today's world is just about those financial "basis trading". ( At some point in early 80's the basis between cash vs future was about $9 dollars per barrel, You Ain't Seen Nothing Yet!)
are you are talking about spread traders playing the brent futures contracts on ICE vs the brent cash price they're taking delivery of??
do these guy not have to sell/close out there long futures contracts because they back it up by delivering?? is that the goldman scam??
i thought the commercials were the big players in the futures markets - is this still so??
Confirmed heavily today May 28th, 2008 9:41AM New York Time
confirmed heavily? is that a technical term?? just close your short and wait for a re-entry. you made a good trade but quit cheerleading. Markets move up and down and never say never with any market.
amazing short CL set-up provided today...