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'Traders' Panic-Buy WTI Crude After Disappointing GDP
Stop-running algos are panic-buying WTI crude this morning as a slightly disappointing GDP print must have triggered the "bad news is good news" function to horde oil with both hands and feet...
Which makes perfect sense after this...
- *IRAQ'S OIL MINISTER SAYS ITS OIL OUTPUT EXCEEDS 4M B/D: ALMADA
And ConocoPhilips' disaster!
Spot the odd one out...
Charts: Bloomberg
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Greatest show on earth -
Panic buying? WTF?
Stop looking at one minute charts and their skewed perspective.
Panic buying in crude would have it up 3 or 4 dollars, not 40 or 50 cents. You overstate the case to create drama....
FYI.
Bill to stop DOL fiduciary rule poised to pass House today.http://www.investmentnews.com/article/20151027/FREE/151029918/bill-to-st...
It all interconnects.
And the Fed is going to raise interest rates 25 bp in December.
No we know why gold and silver were jack hammered.
I leave you with a must see investment tool.
https://www.youtube.com/watch?v=LqQjcalAa20
A gold and silver jack hammering has been in the cards since the spike and failed attempt at a new high in 2011. Since that time I've been calling for $900 gold...still calling it...wash out has not run it's course.
$900 is critical, break that and $700 is online...less than $700 is hard to see at this time. Dollar cost averaging physical below a $1000 probably wouldn't be a bad idea.
I will wait for the Charts to show a "surrender" amongst the gold bugs...then I will buy...the surrender point is $900 or below.
LOL!!! I have no doubt that at this point the "official" price for many things will be quite low, whether or not you can actually take delivery will be another matter altogether...
gotta love COP. lose a billion, raise the dividend. bizarro world.
businesses tied to the Markets lose their business acumen as they are serving too many masters. Big and private is best in this new world. Like us, when we hitch ourselves to something that has authority over us, we lose our freedoms.
once again its not like it is EOM or anything.....nothing to see here
Oil is a necessary commoditiy used by all daily. It has value, even in abundance. People can go without copper, aluminum, PMs consumption/use in their daily lives. Oil is a near necessity outside of the trading realm.
I need to buy a drum of gas, put some stable in it and be ready to pull the kids out of the blast zone.
Oil may be necessary, but swimming in it causes cancer, as does prepared meats, chicken fingers, peanut butter, olive oil, tomatoes, eggplant parmesan, rye bread, pizza, high-fiving, baseball, apple pie, lemonade and Chevrolet.
"traders"... "markets"... LMFAO!!! you guys are funny!
Just the end of the month fucking ramp job.
Honestly, where is the fucking CFTC?
There is blatant manipulation going on and they aren't anywhere to be seen.
Despite Crude Oil WTI soaring, I don't think that entering a short-term long position is justified at the moment in terms of risk and reward.
http://tripstrading.com/crude-oil-wti-1h-chart/
Pump 'em while you got 'em, Oil Dudes. From my read on the microbe based progress - what is holding up the cost side is getting a really cheap sugar producer figured out. The rest appears to be microbe engineering - using CRISPR/CAS9 and its newer derivatives. End result - competitive synthfuels and a cap to Dino-oil pricing.
http://news.nationalgeographic.com/news/innovators/2014/06/140602-george...
"The cups were made of Mirel, or polyhydroxybutyrate (PHB), a substance normally produced with petrochemicals. But this batch was manufactured at a factory in Clinton, Iowa, from genetically altered microbes and corn sugar. The microbes consumed the sugar and converted it into bioplastic in the same way that yeast turns malt and hops into beer. The result: a renewable source of biodegradable plastic that wasn't dependent on fossil fuels. It was just one example, Church wrote, of what was coming down the pike through the emerging discipline of "synthetic" biology.
The basic idea behind synthetic biology, he explained, was that natural organisms could be reprogrammed to do things they wouldn't normally do, things that might be useful to people. In pursuit of this, researchers had learned not only how to read the genetic code of organisms but also how to write new code and insert it into organisms. Besides making plastic, microbes altered in this way had produced carpet fibers, treated wastewater, generated electricity, manufactured jet fuel, created hemoglobin, and fabricated new drugs. But this was only the tip of the iceberg, Church wrote. The same technique could also be used on people.
"Every cell in our body, whether it's a bacterial cell or a human cell, has a genome," he says. "You can extract that genome—it's kind of like a linear tape—and you can read it by a variety of methods. Similarly, like a string of letters that you can read, you can also change it. You can write, you can edit it, and then you can put it back in the cell." "