Why the oil pit needs to be closed down, traders sent back to McDonalds
- Thread starter stock777
- Start date
What part of auction market do you not understand mook? Seriously, why do you even bother to trade. Go get a government job already.
I will listen to Goldman Sachs before I will listen to stock777 and that piss poor leftist article he presented. Goldman Sachs believes oil is just experiencing a correction, and will see new highs based on demand in the emerging markets. Monday, I will be one of those Obama speculators betting that oil will rise.
Quote from GATT:
It's not the price of oil or gold or food which is rising, it's Bernanke who is just crushing the dollar. Make a chart, oil against gold, its a flat line.
It's called inflation.
I agree with GATT. Although the REDUCTION in US drilling thanks to last years BP fiasco has probably contributed as well.
If Obama really wanted to lower the prices, he could have the CFTC raise the margin requirements, as bone mentioned, and allow more drilling for oil in the US. The combination of these should pull the prices of oil back down significantly.
05/03/11
NYME CRUDE OIL, LIGHT SWEET
U.S. 46,443 2.9 104,695 6.4 1,624,328
NON U.S. 20,729 1.3 130,658 8.0
US and Non-US Banks are showing 67K longs and 236K shorts in CL as of the latest reporting period by the CFTC.
They are slightly longish HO and a few other products, but in terms of what they reported they are massively short CL.
NYME CRUDE OIL, LIGHT SWEET
U.S. 46,443 2.9 104,695 6.4 1,624,328
NON U.S. 20,729 1.3 130,658 8.0
US and Non-US Banks are showing 67K longs and 236K shorts in CL as of the latest reporting period by the CFTC.
They are slightly longish HO and a few other products, but in terms of what they reported they are massively short CL.
Dude, it's hilarious you believe anything you read on Zerohedge. LOL. Wow, you really are struggling aren't you? Every unprofitable trader reads that site to try to find reasons why the market is manipulated to explain why they aren't making money. I'm sorry dude. I really am. Why don't you just become a better trader?
You heard "a" floor trader? You read "a" link on zero hedge? Two data points? Seriously? Dude, just learn how this works and you won't have to listen to "a" floor trader to understand this game.
I won't even bother to ref the 'fl00r trader' , pearls before swine you know.
Since you claim to be a trader, lets see you post ONE, I only ask ONE, good trade.
Between you and Fireplug, all you do is troll the board, NEVER posting anything resembling a trade or even a directional opinion.
I'm calling you a poser and a fraud.
Since you claim to be a trader, lets see you post ONE, I only ask ONE, good trade.
Between you and Fireplug, all you do is troll the board, NEVER posting anything resembling a trade or even a directional opinion.
I'm calling you a poser and a fraud.
I'll tell you what. You post your first ever trade, complete with time stamp and DIRECTION and I'll do the same. Deal? Come on dude, I just called your bluff, let's see your cards.