Brent Passes $110

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 02/23/2011 - 11:21 | 988408 tmosley
tmosley's picture

Weird correlation.  Silver is also up 10% over the same time period.

Wed, 02/23/2011 - 11:41 | 988499 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Ah, the sweet smell of irony. Ben totally completes the circle of life here didn't he?



(Okay, I could have said something more dirty than circle of life)

Wed, 02/23/2011 - 11:45 | 988512 MarketTruth
MarketTruth's picture

A circle? Ben? Oh, you mean Ben Shalom Bukkake.

Wed, 02/23/2011 - 12:17 | 988663 Calculated_Risk
Calculated_Risk's picture

"completes the circle of the toilet bowl"


Wed, 02/23/2011 - 12:05 | 988611 tmosley
tmosley's picture

Ok, I looked back, and there's not really that much of a correlation.  Silver has clearly been kicking oil's butt.  At least, WTI's butt.  Can't seem to get Brent to display on stockcharts.$silver:$wtic


Wed, 02/23/2011 - 11:22 | 988409 Xibalba
Xibalba's picture

Silver and Gold! 

Wed, 02/23/2011 - 11:27 | 988434 nontaxpayer
nontaxpayer's picture

And oil!

Wed, 02/23/2011 - 11:30 | 988455 snowball777
snowball777's picture

Oh my!

Wed, 02/23/2011 - 11:42 | 988504 UnRealized Reality
UnRealized Reality's picture


Wed, 02/23/2011 - 11:32 | 988458 Cash_is_Trash
Cash_is_Trash's picture


Wed, 02/23/2011 - 11:34 | 988471 UninterestedObserver
UninterestedObserver's picture

Silver and Gold flying, copper going down - I wonder how JPM is doing?

Wed, 02/23/2011 - 11:23 | 988413 MsCreant
MsCreant's picture

Gold looking interesting too.

Wed, 02/23/2011 - 11:59 | 988581 jus_lite_reading
jus_lite_reading's picture

Dr. Deficit is working overtime these days. The destruction of the entire financial system could occur from a single natural disaster. That is how close we are.

Wed, 02/23/2011 - 12:52 | 988814 VegasBD
VegasBD's picture

Yea, good point. =\

Wed, 02/23/2011 - 11:24 | 988420 SpeakerFTD
SpeakerFTD's picture

Sweet.  I await Lazlo Birinyi's forecast on Brent.  

Wed, 02/23/2011 - 11:24 | 988421 iDealMeat
iDealMeat's picture

OT:  Guess who's mayor of Chicago....  




Wed, 02/23/2011 - 11:26 | 988435 sudzee
sudzee's picture

Gov't may have to issue oil stamps to augment food stamps.  

Wed, 02/23/2011 - 11:33 | 988465 Rainman
Rainman's picture

GAPS and a nice ring to it.

Wed, 02/23/2011 - 11:28 | 988439 RobotTrader
RobotTrader's picture

I'm gonna be screwed this summer....

I should have bought double the shares in UGA, but I waffled and missed out.


Wed, 02/23/2011 - 11:29 | 988448 Internet Tough Guy
Internet Tough Guy's picture

A clueless classic from the master trader himself:

Crude Oil might have topped out tonight
RobotTrader - Mon, Feb 21, 2011 - 09:18 PM

Nice reversal, looks like crashing equity markets are now factoring plummeting demand.

Wed, 02/23/2011 - 11:34 | 988472 taraxias
taraxias's picture


Wed, 02/23/2011 - 11:35 | 988476 UninterestedObserver
UninterestedObserver's picture


Wed, 02/23/2011 - 11:49 | 988528 lieutenantjohnchard
lieutenantjohnchard's picture

eight ball in the side pocket. rack `em! excellent, itg.

Wed, 02/23/2011 - 12:56 | 988831 VegasBD
VegasBD's picture

Someone say 8ball? Good idea. Better call that in before the weekend.

Wed, 02/23/2011 - 11:32 | 988463 tmosley
tmosley's picture

Shoulda got a real job.  Maybe then you wouldn't have bankrupted yourself six times in the last five years.

Wed, 02/23/2011 - 11:34 | 988475 Snidley Whipsnae
Snidley Whipsnae's picture

Always buy out of money crude calls for summer driving season... guaranteed to make you some bucks some of the time.

Wed, 02/23/2011 - 11:38 | 988492 lieutenantjohnchard
lieutenantjohnchard's picture

as mentioned many times the old catfish mouth doesn't even take his own advice so why should anybody else. meanwhile, as the catfish mouth would say, oil, gold and silver are rising quite nicely, the opposite of what the catfish mouth said would happen.

btw: are we fighting the fed city hall today trying to pick a top, as you mentioned yesterday? or has that codicil been rescinded for today, or at least until the wind changes?

ps: the old scroomer, as you call him, gentleman jim sinclair sends his regards.

btw: i notice that egypt is still on the front pages a month after the fortnight you said it would gone. any other predictions i can fade today?

Wed, 02/23/2011 - 11:59 | 988579 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Robot! Say it isn't so! You know Summer is all Hamptons, all the time. How will we ever BBQ without you!


Hookers in the city during the summer is so 1990.

Wed, 02/23/2011 - 11:28 | 988440 HedgeFundLIVE
HedgeFundLIVE's picture

DBO- an oil ETF that has been on a roll, has low correlation to an unpredictable market = good for hedging purposes. thoughts?:

Wed, 02/23/2011 - 11:28 | 988441 slackrabbit
slackrabbit's picture

Is it a bird?

Is it a plane?

No, its fleet of black swans, and the f***ers are about to s**t all over us!


Wed, 02/23/2011 - 11:49 | 988525 Aquiloaster
Aquiloaster's picture

I'm not sure I would necessarily call it a black swan (an unexpected extreme outlier that, in all, plays a larger role than regular occurances). If Tyler predicted it, I think that from the point of view of ZHers, it cannot be. Every major event is not a black swan.

Wed, 02/23/2011 - 11:54 | 988554 UninterestedObserver
UninterestedObserver's picture

? isn't that the definition of a black swan - major market moving event that wasn't predicted

Wed, 02/23/2011 - 12:29 | 988718 Aquiloaster
Aquiloaster's picture

My point with that comment was the Tyler predicted it. Therefore not a black swan. If President Obama asked for a task force to assess stability in the middle east, he was not surprised either. In addition, bloggers such as Charles Hugh Smith, James Kunslter etc. also stated in late December/early January that the middle east was going to descend into violence which would destablize the recovery. The long and short of my comment is that enough people saw this coming to consider it predictable.

Wed, 02/23/2011 - 11:52 | 988540 tmosley
tmosley's picture

Then we shall count our silver in the shade!

Wed, 02/23/2011 - 11:29 | 988444 Zero Debt
Zero Debt's picture

Now if there's a gold:oil ratio and a gold:silver ratio, isn't there a oil:silver ratio?

Wed, 02/23/2011 - 11:30 | 988449 Temporalist
Temporalist's picture

Gold just shot straight up. 

Wed, 02/23/2011 - 11:32 | 988459 nontaxpayer
nontaxpayer's picture

Silver too!

Wed, 02/23/2011 - 11:31 | 988452 Snidley Whipsnae
Snidley Whipsnae's picture

Gad-off-ee... should I stay or should I go... The Clash

Wed, 02/23/2011 - 11:33 | 988466 SheepDog-One
SheepDog-One's picture

Rock the Casbah!

Wed, 02/23/2011 - 11:39 | 988493 snowball777
snowball777's picture

As soon as the shareef was
Chauffeured outta there
The jet pilots tuned to
The cockpit radio blare

As soon as the shareef was
Outta their hair
The jet pilots wailed

Wed, 02/23/2011 - 11:35 | 988473 Dick Darlington
Dick Darlington's picture

Tyler, You forgot one thing. JCT hiking rates just before the wheels come off.

Wed, 02/23/2011 - 11:34 | 988474 Sutton
Sutton's picture

George Melloan in WSJ op-ed blames Ben B for the turmoil in the  Islamshittistans .

Tyler was way ahead.

Wed, 02/23/2011 - 11:40 | 988496 earnyermoney
earnyermoney's picture

Actually, let's give credit where credit is due. Bruce K. called this a month ago.

Wed, 02/23/2011 - 11:54 | 988546 Tyler Durden
Tyler Durden's picture

Our first note that Bernanke will be responsible for global genocide in October 2010 was not met too favorably.

Wed, 02/23/2011 - 11:59 | 988577 Snidley Whipsnae
Snidley Whipsnae's picture

I recall that one... I knew he would print, what I did not know, and found very had to believe when others were saying it, was just how much Ben would print.

I suppose that I thought his 'helicopter speech' was simply more jawboning. Boy, was I wrong about that one!

Wed, 02/23/2011 - 12:06 | 988612 CrashisOptimistic
CrashisOptimistic's picture

Altogether way too glib a presumption that Bernanke is the cause of oil price rise.

Yes, it is red meat to the folks that generate click revenue here, but reality is rather more important than that.

North Sea oil production (Brent) has been in freefall for a decade now.

Wed, 02/23/2011 - 12:15 | 988654 tmosley
tmosley's picture

Blah blah blah.  Just keep ignoring the facts.

If oil supply were the issue, oil would have lead everything else up in price.  It hasn't, so shut up with the peak oil crap.  We can cross that bridge if we make it that far.

Wed, 02/23/2011 - 12:26 | 988710 Snidley Whipsnae
Snidley Whipsnae's picture

Oil is settled almost exclusively in dollars and now there are lots more dollars available for settlement/ shorthand is 'too much slosh in the system'.

Who is to be faulted for the slosh?

Granted, Brent is in decline, Cantarell is in decline, Venesuela is probably in decline except the asphalt reserves...and, BP is a disaster waiting for another opportunity, and some others.

I was a regular at 'The Oil Drum' when crude shot up to ~ $147... On that board everyone was screaming 'this is it!, it's Peak Oil, and the price is only going up from here!' I said 'bs, the Persian Gulf is full of tankers loaded with Iranian Crude and there is NO market to sell to.' SA was also saying they were making more crude available than the market wanted to buy. Naturally I was booed. I shorted oil and made a tidy sum. When it hit $121 on the way down I cashed out my winnings. I gave a blow by blow account to the Oil Drum of what I was doing, and why. I received another round of boos. I laughed all the way to my gold dealer.

So, what is to be learned from of all this... Not every run up in any commodity is driven by shortage. Occasionally there is too much slosh looking for higher returns and when ROI is not available in the normal markets lots of money piles into commodities. The fact that shortages do exist, some due to potential shut in production, weather, etc, isn't helping either.

Maybe we are seeing the perfect storm. No way I am short crude now!


Wed, 02/23/2011 - 13:40 | 989113 CrashisOptimistic
CrashisOptimistic's picture


You do not understand the problem.  This is not about trading.  Price is not informative about this matter when so much China supply is in non public contracts.

The New Normal is precisely that.  No past lessons were lessons.  There is no history to learn from because this world never existed before.

Wed, 02/23/2011 - 11:35 | 988478 topcallingtroll
topcallingtroll's picture


The triple short etf.

Come on Ghadafi....stay in the game....

Do NOT follow this link or you will be banned from the site!