Tandalayo_Scheisskopf
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Thu Jul-17-08 01:31 PM
Original message |
Oil down, grain down big, US Commodity indices down. |
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Edited on Thu Jul-17-08 01:39 PM by Tandalayo_Scheisskop
Could the UBS thing have something to do with this? People getting a sense that the keg has run dry with their schemes?
Oil is steadily dropping about 3.00/day this week. A lot of resistance keeps meeting it, trying to hold support which is at 130. Someone really wants to keep those prices up, for the short term.
On edit: Now .48 off of major support. Resistance coming back in, but feebily.
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liberal N proud
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Thu Jul-17-08 01:34 PM
Response to Original message |
1. When Oil drops below $100/barrel then |
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we can say the price has dropped.
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LSK
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Thu Jul-17-08 01:39 PM
Response to Reply #1 |
8. it really should be around 70 |
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Edited on Thu Jul-17-08 01:39 PM by LSK
If we didn't invade Iraq, make that 50.
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Tandalayo_Scheisskopf
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Thu Jul-17-08 01:41 PM
Response to Reply #1 |
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I know what you are saying and I agree, but really, one cannot expect a market crash in oil. Yet, anyway.
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notadmblnd
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Thu Jul-17-08 01:52 PM
Response to Reply #10 |
17. So it's just a distraction? |
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Edited on Thu Jul-17-08 01:53 PM by notadmblnd
We're once again being played while something much more important is really going on?
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NightWatcher
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Thu Jul-17-08 01:34 PM
Response to Original message |
2. you forgot my personal fav: Dollar down |
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the reason we cannot buy anything is that our currency isnt worth the paper....
Everything goes back to the dollar. More dollars needed to buy a barrel of oil, a pound of grain, a house.....
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Zynx
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Thu Jul-17-08 01:50 PM
Response to Reply #2 |
16. The rally in oil has far far outstripped the decline in the dollar. |
skooooo
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Thu Jul-17-08 01:34 PM
Response to Original message |
3. At least the stock market is up today..and was yesterday. |
DJ13
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Thu Jul-17-08 01:35 PM
Response to Original message |
4. I hope so, but I think this is a headfake |
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Big investors pulling out of commodities this week to ride the stock market in options expiration week (They expire at the close on Friday, so stocks were expected to go up), only to move back into commodities by the close on Friday or the opening on Monday.
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Tandalayo_Scheisskopf
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Thu Jul-17-08 01:38 PM
Response to Reply #4 |
7. A 14.00 drop in a week... |
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Is some headfake. Something else, or a combination of somethings, is in play here.
Gold and Plat are both down too.
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DJ13
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Thu Jul-17-08 01:43 PM
Response to Reply #7 |
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Edited on Thu Jul-17-08 01:44 PM by DJ13
Oil went up over $11 in one day, so dropping slightly more over several days isnt as great an accomplishment as it once would have been.
When speculators are involved, so is volatility.
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whistle
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Thu Jul-17-08 01:36 PM
Response to Original message |
5. Uhmmm, I wonder what cold be causing this? |
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:think: The top 2,100 Wall Street commodities speculators now known by name, location and computer ID #s :yoiks:
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Tandalayo_Scheisskopf
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Thu Jul-17-08 01:37 PM
Response to Reply #5 |
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Lawyerin' up costs big money.
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kestrel91316
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Thu Jul-17-08 01:41 PM
Response to Original message |
9. That's all good and well, but I guarantee you we are NOT going to wee |
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equivalent declines in prices at the pump or in the grocery store. GUARANTEED.
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Tandalayo_Scheisskopf
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Thu Jul-17-08 01:42 PM
Response to Reply #9 |
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That said, I am looking at this as some relief over the mid and longer terms. We need some relief.
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mmonk
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Thu Jul-17-08 01:42 PM
Response to Original message |
12. What goes up, must come down. |
Tandalayo_Scheisskopf
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Thu Jul-17-08 01:43 PM
Response to Reply #12 |
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Oil hovering at 130 support right now.
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ben_meyers
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Thu Jul-17-08 01:48 PM
Response to Original message |
15. Gas down 10 cents a gal overnight |
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at at least 4 stations here in Phoenix that I drive past each morning. WEE!
Not near enough, but a start.
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whistle
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Thu Jul-17-08 01:59 PM
Response to Reply #15 |
18. I've not seen that trend yet here in Orlando FL and I'm due to fill up this weekend |
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..I've been watching and waiting but by Saturday I'll be running on fumes
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Tandalayo_Scheisskopf
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Thu Jul-17-08 02:22 PM
Response to Original message |
19. Alright! Busted support! |
bbgrunt
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Thu Jul-17-08 02:35 PM
Response to Original message |
20. maybe w's new willingness to talk with Iran has |
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something to do with lowering tensions and the expectation of nuclear world war.
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Tandalayo_Scheisskopf
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Thu Jul-17-08 02:42 PM
Response to Reply #20 |
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There was likely a lot of speculation on imminent war. Like they would have somewhere to spend it if there was war.
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spinbaby
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Thu Jul-17-08 02:46 PM
Response to Original message |
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Every time oil starts to go down, a pipeline blows up in Nigeria. Just a coincidence, I'm sure.:eyes:
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DailyGrind51
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Thu Jul-17-08 02:47 PM
Response to Original message |
23. Let's hope oil prices per barrel continues to decline. |
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