[vision-master]

Next will be the many Shorty peaks babble.

[Pops]

$this->bbcode_second_pass_quote('pstarr', 'I') am as willing as the next guy to believe in a good conspiracy. They exist. However I don't see that the CFTC is in kahoots with the oil companies or oil traders.

[kublikhan]

$this->bbcode_second_pass_quote('Hughj', 'K') - I offer 2008 as evidence of futures trading gone wild. Happening again now to a lesser
extent. Happened in 1990 when it fell to 10 bucks, bankrupting the oldest oil company in
America. OPEC did it in 1973. What oil costs is irrelevant to traders, they just do their
thing and we all pay.

[Hughj]

Funny you should say that K, because that is exactly what I am going to do. I have never
been much of a commodities trader, but I'm going to be deep into Halliburton, Trans Ocean
and BP next time this thing hits bottom. Such a shame it has taken me so long to get this
smart. Youth is wasted on the young.

Hugh

[Pops]

$this->bbcode_second_pass_quote('Hughj', 'S')torage in Cushing was totally at capacity, yet prices continued to rise to $147 per barrel.

[peripato]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('', 'A')t one point they had such a dominant position that they owned about 4.6 million barrels of crude oil

[peripato]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('peripato', '')$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('', 'A')t one point they had such a dominant position that they owned about 4.6 million barrels of crude oil

[Hughj]

OK......so all my new friends at PO say it isn't traders (will someone please tell Obama),
it isn't the oil companies, certainly isn't the consumer, so what drove prices from 60 to 147
to 30 in a matter of months????? I'm listening.......

Hugh

[peripato]

$this->bbcode_second_pass_quote('Hughj', 'O')K......so all my new friends at PO say it isn't traders (will someone please tell Obama),
it isn't the oil companies, certainly isn't the consumer, so what drove prices from 60 to 147
to 30 in a matter of months????? I'm listening.......

Hugh

[Hughj]

P - Great article........got to ask though.......did you read it?

Doug Noland, an analyst for David W. Tice & Associates who posts his commentary on the firm's Prudent Bear site, provides an analysis that parallels queueing theory, but also adds more detail. Noland believes that the oil and commodities price break is not really the commodities bubble bursting, but rather the burst of what he calls a bubble in the "leveraged speculating community." He is referring to large speculators in the form of banks, hedge funds and even well-financed individual investors who borrow huge sums of money for the purposes of speculation. Some borrow 80 percent or more of their funds. That means a move of 20 percent or even less against them can wipe out their capital.

Sounds strangely familiar, doesn't it?

[peripato]

$this->bbcode_second_pass_quote('Hughj', 'P') - Great article........got to ask though.......did you read it?

Doug Noland, an analyst for David W. Tice & Associates who posts his commentary on the firm's Prudent Bear site, provides an analysis that parallels queueing theory, but also adds more detail. Noland believes that the oil and commodities price break is not really the commodities bubble bursting, but rather the burst of what he calls a bubble in the "leveraged speculating community." He is referring to large speculators in the form of banks, hedge funds and even well-financed individual investors who borrow huge sums of money for the purposes of speculation. Some borrow 80 percent or more of their funds. That means a move of 20 percent or even less against them can wipe out their capital.

Sounds strangely familiar, doesn't it?

[Hughj]

Do I understand that you are now discrediting the article you posted?

Hugh

[peripato]

$this->bbcode_second_pass_quote('Hughj', 'D')o I understand that you are now discrediting the article you posted?

Hugh

[Hughj]

With that, I'm now going to watch 2 and 1/2 Men.

Hugh

[peripato]

$this->bbcode_second_pass_quote('Hughj', 'W')ith that, I'm now going to watch 2 and 1/2 Men.

Hugh

[AdTheNad]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('peripato', 'E')xactly. The Futures market is a zero sum game - for every contract bought, one must be sold. Traders betting on what the price of some commodity or underlying instrument will be sometime in the future, which has nothing to do with the physical or spot market at all. For every winner, there is naturally a loser and everything is nearly always settled in cash, no physical delivery - like 99.99% of the time. How speculators can be blamed for front-running the oil market and not obvious things like say hello, "supply and demand" is beyond me.