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the sudden $ drop in crude oil ???

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the sudden $ drop in crude oil ???

Old 09-18-2012, 06:16 PM
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nat
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Default the sudden $ drop in crude oil ???

I assume everyone saw the news


What happened ?

The Financial News networks seem to be baffled

Could it be Central Planing on an election year ?




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Old 09-18-2012, 06:18 PM
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You mean the 3$ drop in less than a minute yesterday?
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Old 09-18-2012, 06:18 PM
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one way or another....WE are paying for it
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Old 09-18-2012, 06:22 PM
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Originally Posted by Joe View Post
You mean the 3$ drop in less than a minute yesterday?

yes..............
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Old 09-18-2012, 06:26 PM
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Originally Posted by nat View Post
yes..............
I'd say it was some profit taking, and crude options expiring, but I'm no trader.

http://www.bloomberg.com/news/2012-0...ndex-drop.html
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Old 09-18-2012, 07:42 PM
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Algos...
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Old 09-18-2012, 08:30 PM
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End of the day trade.... Who knows. A lot of crap happens and it could have been a algo/human error or just somebody that needed to get out of a position at days end because they needed to close out the position or didn't want the overnight risk.

I remember 7-8 years ago MBNA had a after hours trade of 100 shares down a decent %. That's all CNBC would talk about till the next day when it opened back up around its trading range from the prior day.
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Old 09-19-2012, 02:41 AM
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It's f-ed up, it could drop to $4 a ballet and we would stil be stuck paying $3.65-$3.75 a gallon.
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Old 09-19-2012, 03:58 AM
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I was looking at this chart and web page..........that's why I ask


http://www.jsmineset.com/2012/09/17/jims-mailbox-1043/
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Old 09-19-2012, 04:47 AM
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It really doesn't matter, we will pay whatever price they put on the pump. If crude drops there will be maintenance at a refinery to keep prices high. If they feel prices are staying too low there will be a refinery fire to miraculously save the day for them. A glut of oil and processed fuel? Keep the tankers at sea.

Prices haven't been due to real supply and demand for decades but rather manipulations at every level. The world is just one big corrupt ball of s#!t.
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Old 09-19-2012, 05:24 AM
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Originally Posted by baypro21 View Post
It really doesn't matter, we will pay whatever price they put on the pump. If crude drops there will be maintenance at a refinery to keep prices high. If they feel prices are staying too low there will be a refinery fire to miraculously save the day for them. A glut of oil and processed fuel? Keep the tankers at sea.

Prices haven't been due to real supply and demand for decades but rather manipulations at every level. The world is just one big corrupt ball of s#!t.
It's Jimmy Carter's fault!
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Old 09-19-2012, 05:31 AM
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Originally Posted by davedowneast View Post
It's Jimmy Carter's fault!
The original peanut farmer Jimmy Carter or the new Jimmy Carter from Chicago?
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Old 09-19-2012, 08:51 AM
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Originally Posted by baypro21 View Post
It really doesn't matter, we will pay whatever price they put on the pump. If crude drops there will be maintenance at a refinery to keep prices high. If they feel prices are staying too low there will be a refinery fire to miraculously save the day for them. A glut of oil and processed fuel? Keep the tankers at sea.

Prices haven't been due to real supply and demand for decades but rather manipulations at every level. The world is just one big corrupt ball of s#!t.
Quite the truth. Oil production is at a all time high.
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Old 09-19-2012, 09:23 AM
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Gasoline futures have dropped about 20 cents in 3 days. Down to $2.83/gallon. Pump prices to go the second these futures go up but take weeks to come down.
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Old 09-19-2012, 10:01 AM
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Oil companies have been capping new wells for decades. Most of them have 100 year future supplies. They do the minimum drilling to keep the lease, then shut the well down, and move on.

The've proven Pump gas is not price sensitive. If it was, we would all be walking to work right now. Even if gas goes to $10 or $20 dollars per gallon, we will pay. Everyone need to work, even if your monthly gas bill is more than your mortgage.

If everyone picked a price,...it would help if it was the same price. And refused to pay more per gallon than that price, lets say $3.00/gal.

Then everytime the price of gas went over that price, call in sick.

Stop driving, only buy from a store within bicycling distance.

When the sells of pump gas stopped everytime the price hit $3.00, steps would be taken to prevent it from reaching that price. (banking reserves, refining ahead, drilling low hanging fruit, etc...).

Politicians would declare a gas tax holiday, (.70-$1.00 of each gallon is taxes, not including the taxes levied on (rich) oil companies that are passed on to the buyer). Estimates are 70-80% of the price at the pump is the result of varius taxes, and regulations, IE Ethanol.

Net profits are .50c Cost to market .50c - $1.50.... We could be paying $1.00-$2.00 a gallon right now if taxes were reduced.

If it wasn't so tragic it would be funny. Everytime gas prices go up , the politicians go after those greedy oil companies, and raise their taxes.
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Old 09-19-2012, 10:23 AM
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As much as everyone wants to blame the speculators as being 100% of the reason behind price increases, sometimes it works the other way when a large enough group of them get caught with their pants down because they bet the wrong way.
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Old 09-19-2012, 10:31 AM
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Originally Posted by capn_billl View Post
Everytime gas prices go up , the politicians go after those greedy oil companies, and raise their taxes.

Incompetent, incontinent assholes, all of 'em.
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Old 09-19-2012, 12:37 PM
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Originally Posted by baypro21 View Post
It really doesn't matter, we will pay whatever price they put on the pump. If crude drops there will be maintenance at a refinery to keep prices high. If they feel prices are staying too low there will be a refinery fire to miraculously save the day for them. A glut of oil and processed fuel? Keep the tankers at sea.

Prices haven't been due to real supply and demand for decades but rather manipulations at every level. The world is just one big corrupt ball of s#!t.
So many people overlook the stations themselves in all of this. Do some diligence on 'sticky prices' and see for yourself....
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