I'm sorry but this seems all too phony. First of all, the discount rate is merely symbolic, so why did Uncle Bernie decide to announce the rate hike now rather than at the scheduled date of FOMC meeting? What's his real intention? Political pandering? It just seems too damn fishy!Quote from Speciaul_K:
Federal Reserve to Raise Fed Discount Rate by 0.25 percentage points to 0.75 percent (Story Developing)
Glad im still short
CL Redux
- Thread starter schizo
- Start date
I wouldn't bet on it, not just yet. Remember when Bernanke embarked on a in-your-face rate slashing campaign? It wasn't until he hit the 0% mark did the market stopped dropping. Until then, not only did the rates kept dropping but the market kept dropping as well. By the same token, the market might simply ignore the rate hike for some time until they wake up one day and feel they're in deep shit.
CPI numbers tommorow morning. I think he did it to to put a lid on commodity prices. He must agree with everyone else around here that oil prices should not be as high as they are right now.
As of right now march and april contracts have not broken support yet. Here are my numbers:
clh10 7790
clj10 7820
If these can get broken I will be sleeping like a kid on christmas eve
Mandatory delivery for large contract holders would put a stop to the speculative excess in crude oil
Not to mention GS and MS have special treatment from the exchanges that allow them to contravene position limits.
Crude oil. probably one of the crookedest markets around.
Not to mention GS and MS have special treatment from the exchanges that allow them to contravene position limits.
Crude oil. probably one of the crookedest markets around.
Quote from Speciaul_K:
Federal Reserve to Raise Fed Discount Rate by 0.25 percentage points to 0.75 percent (Story Developing)
Glad im still short
Don't forget as of this morning CL future options expired and became worthless so now CL has no reason not to sell of this 8 dollar run.
enjoy your holiday
Actually I don't see what mandatory delivery would solve. Sounds just like an indirect way of saying you'd like smaller caps on position sizes. In the long run the prices have to return to a 'correct' value even if they're out of whack for a while just just because the contracts will expire and that futures are a zero sum game.