Oil Run up

Quote from scriabinop23:

heheh... but seriously, it does always collapse. so thats not actually contrarian.
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If you time this right, this is where big money are made. I'm short 2 CL contracts at 138. Money I made in SOLF will pay for the hurting I'm about to receive from this short. LOL.
 
Just thinking if a limit move is $10 then it will take 1 year to reach $2000.

Thats my forecast Oil will go up forever and the SP500 is going to zero. OK close to zero its got some Oil stocks in it.

Seriously though I smell blood someone is in trouble!
 
Quote from LuckyGirl:

Why has trade not stopped if it has reached limit up?
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You are looking at the electronic contract. Limit is $20. The ring traded contract is $10 for five minutes then is expanded another $10 (in either direction) after trading starts. Essentially there is no limit.

"If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $10.00 per barrel in either direction. If another halt were triggered, the market would continue to be expanded by $10.00 per barrel in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session."
 
I told everyone that this bullshit with crude was going to crush the equity markets.

I don't care that I was right or wrong, but there's no doubt it's happening in front of our eyes.

Now the question becomes what the hell is anyone going to do about it, because this is a crazy ass, serious, damaging situation we are facing.

We have an incompetent federal reserve; that's apparent. Bernanke went two or three cuts too far, and this is what incompetency brings you. I won't even get into the every other incompetent branch of our government.
 
Quote from SCI new york:

ok; Oil trading at 130 and change on bs news, largest point increase on oil in a day yesterday on no news.
Only real news is that the investigation probe into oil manipulation found that the big firms were in fact manipulating the system but since they found some kind of bs loophole, they can't be charged yet. As soon as that news came out, oil flew up to new highs. How obvious of manipulation is that! How can they not get in trouble for causing a global crisis! It was estimated that they have manipulated the price of oil between 30/40 points. So sick.
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I mean really, isn't that the whole point on the Street. Make money any way you can as long as you can't be charged. (Of course a few screwed up and got caught, but most just moved to the Hamptons.) As long as you as a trader understand how it works and stay out of LaLa land, you're fine.:D
 
Quote from limitdown:

since anyone complaining of pointing out the negetive deliterious effects is being smeared with some socialist, communist name calling by those in support of these conditions,

then, a simple solution would be for Geo Bush II to show his commanding, authoritative leadership and get out in front of this "thing"

hey, after all, isn't he an Oil Man?
hey, after all, isn't this what these last 8 years were all about anyway?

hey, after all, with stocks going up, oil going up, with stocks going down, oil going up,

hey, after all, isn't this what the Texas Delegation has wanted all along?
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Yeah, and at this rate I guess he wants the ENTIRE FREAKING AIRLINE INDUSTRY to go belly-up and all commerce as we know it to stop dead in its tracks.

Thank you Phil Gramm
Thank you Wendy Gramm
Thank you George "Dumbya" Bush
 
Quote from gobar:

what oil up 11 dollars...

did isreal bombed iran?
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no, but they are saber rattling. I wouldn't be surprised if oil went down after Israel attacks Iran. "Buy the rumor, sell the news."
 
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