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Crude Is Crashing
WTI Crude is pressing back near the lows hit before August's month-end meltup manipulation...
Following Saudi's rejection of the majority of OPEC's calls for supply cuts (among comments this morning) and tumbling demand, surging US production, and surprisngly large inventoiry builds... it is no surprise that prices are tumbling-er...
Back to August lows...
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Not crashing...yet, but I have no doubt that it'll be happening soon.....
Will be at $28 soon enough.
Once we get far enough into the thirty's that the speculators start panicking the twenties will likely fly by on the way to the teens......
Just a flesh wound...
Finally - always wondered how many crude futs Khen could buy in one day! Maybe we will find out soon enough.
$1.00 ozs of Silver soon. Fucking glorious!
If it does, I'm cashing out my 401k and getting physical.
Crash and burn. Come on already.
Got gas at $1.57/gallon in southwest Michigan on Sunday. Wondering if it can go lower.
At least fuel oil will be cheap this winter.
$1.52. http://www.grandrapidsgasprices.com/GasPriceSearch.aspx?typ=adv&fuel=A&srch=0&area=All%20Areas&tme_limit=24
You will see $1.20 gas.
Around $.50 total in taxes and fees for every gallon in the U.S. regardless of price, so that's the theoretical floor. At $2.00/gal, retailers are only getting $1.50. Less than $1.50/gal at the pump means they're trying to squeeze a profit by selling gas that wholesaled for less than a buck a gallon. Gas stations are going to have to sell a whole lotta snacks to stay in business.
I'm glad Tyler finally said it...manipulation! Yes..They have been pumping it up continuesly since Aug.
I would like to thank Gartman for publicly covering his oil short at a loss when it was $43. The perfect contrarian indicator.
http://www.zerohedge.com/news/2015-11-24/we-are-gone-now-dennis-gartman-...
It's crashing on USA. Europe and Chinese weakness. While commodity producers like Canada and Brazil collapse!
But don't worry! National Public Radio Economic report this moring says. "US labor market has reached ideal position. Wages rising. Jobs available with rapid hiring in services to meet new consumer demand." NPR says that these rising wages and rising employment means consumers are ideally placed for rapid consumtion.
I shit you not! NRP ran this story at 9:00 central standard time today!
what? I believe them. C'mon really? Do you think NPR would lie? Dude, get real. I'm so stoked I'm going out today and spending my soon-to-arrive wage increase on a new Escalade to put under the Christmas tree! Fuck yeah !
As kids we used to laugh at Moscow residents lining up to read totally bogus financial growth numbers posted behind Pravda glass windows, and here we are decades later, once more getting the same gov't bulls**t from behind glass screens.
"No one saw this coming!"
That's what you call cutting the Bullshit / PsyOp Script pretty thick.
that's what you call one of the Fed two "tools" - the other "tool" is war
Ya Jack, but all those NPR donaters will have a nice fuzzy feeling hearing that report..(sarc)
Yes, I caught that. It seems to emerge from the never-ending steam of articles trying to convince the non-existent borrowers that the Fed is about to hike rates and now is the best time to borrow. Bots generating articles that only the bots tend to read.
Putin Isnt playing nice in the Sandbox. What did you all expect ? All Assets are policy tools. Nothing else
DWTI and RUSS have in the past been some reasonable playss if playing the maipulation you have a stomach for
I can believe that oil's action is why PMs are getting trashed, not because people are longer buying "crisis" insurance.
This map suggests the next crash landing may be in the $20 vicinity:
http://finviz.com/futures_charts.ashx?t=CL&p=m1
What does this mean for Frackers? They have run through their hedged positions, and now face their debt overhang with nothing but oil field revenues, minus production and transprt costs. Now if you ever kept books, you would know that Frackers are Fucked. They went into it using debt, and that was with $80+ oil as far as one could see forward, with the plan to to see $120 a barrel BEFORE the major junk bonds needed repaying. It didn't work. North Dakota was riding the top of a wave, that wave has crashed. It is not odd that major media says little to nothing about Oil Patch life now!
Won't somebody please think of the North Dakota hookers?
So, I LEGALLY grew about 8 pounds of really good green buds. Grand daddy purple variety...but because it is legal, everybody and their brother (and their mother lol), are growing it too, so supply has brought the price way down. So, I started thinking about silver. The only reason it would go down in a real world, would be because supply is outweighing demand. Do you think supply is outweighing demand? I think not, and for all of those using charts and history to guess the price of future silver can kiss my ass...The price of silver will be whatever they want it to be. Oh, by the way, I came across this article headline, "Avon stocks explode higher because of a rumor that oprah winfrey is buying it"....elle friggin o welll. This is what stocks have come to. A rumor that oprah is buying...hah. The day I fall off my chair is seeing an article, "silver prices rises because justin beaver is investing in silver"...