god damn!!!

saudis also reducing production...

...i was soo tempted to buy..i was scared euro shit would drop it...

but tempted bc people have not much to put their money in but jack up future oil prices

LETS GO!!!

CRUDE OIL DOWN 2% & GOING....GOING

(As of 07:10 AM EST.) Crude Light Oil Comp. - nymex
	Contract	Month	Last	Chg	Open	High	Low	Volume	OpenInt	Exchange	Date	Time
	LIGHT CRUDE OIL	Jun '11	111.89	-2.04	113.89	114.14	110.82	44778	346979	NYME	05/02/11	10:56:58
	LIGHT CRUDE OIL	Jul '11	112.31	-2.12	114.28	114.62	111.32	6993	212464	NYME	05/02/11	10:56:12
	LIGHT CRUDE OIL	Aug '11	112.54	-2.17	114.61	114.90	111.67	2823	80917	NYME	05/02/11	10:52:20
	LIGHT CRUDE OIL	Sep '11	112.64	-2.19	114.95	114.95	111.82	1325	79123	NYME	05/02/11	10:51:48
	LIGHT CRUDE OIL	Oct '11	112.65	-2.17	114.10	114.45	112.00	430	41672	NYME	05/02/11	10:49:49
	LIGHT CRUDE OIL	Nov '11	112.64	-2.14	114.41	114.41	112.00	511	37157	NYME	05/02/11	10:50:23
	LIGHT CRUDE OIL	Dec '11	112.65	-2.08	114.60	114.60	111.83	1637	189125	NYME	05/02/11	10:51:02

I am going to bet the ranch, by the end of the day; Crude oil will fall slightly to $100/barrel. 

Will keep you posted!

Oil just took a little tumble, USO following

CL bounce off 110

Quote:

Originally Posted by StockJock-e 

CL bounce off 110

Contract

Month

Last

Chg

Open

High

Low

Volume

OpenInt

Exchange

Date

Time

LIGHT CRUDE OIL

Jun '11

108.84

-0.40

108.78

109.00

108.75

439

328010

NYME

05/04/11

22:33:18

LIGHT CRUDE OIL

Jul '11

109.35

-0.38

109.32

109.47

109.30

222

230191

NYME

05/04/11

22:29:47

Is it time to buy one of those All-electric cars now? How about the 2010 Chevrolet Cobalt? 

25 City, 36 HYWY seems quite logical to me. 

I think I will trade in my shining yellow Hummer for one of these! 

THe question is what way do they take this descending wedge

GOD DAM UTTERLY IN AWE....blew past 103 support.. now at 101..-8.00 just today.

Crude oil gone down $99.03 from $108.78!

Contract

Month

Last

Chg

Open

High

Low

Volume

OpenInt

Exchange

Date

Time

LIGHT CRUDE OIL

Jun '11

99.03

-10.21

108.78

109.38

98.25

641587

321820

NYME

05/05/11

20:01:57

LIGHT CRUDE OIL

Jul '11

99.57

-10.16

109.32

109.85

98.77

134441

235195

NYME

05/05/11

20:01:57

Hmmm...with only 2 1/2 weeks into the Memorial Day, it would be sweet if it stayed like this. But I know, it's a "sweet thought" to ponder on. 

oh sweet Jesus... I never thought about it, but its too late now...

SCO - Inverse oil etf

it would of been too late anyways.. i was expecting slv to do it and had the inverse up.. but not oil.

Quote:

Originally Posted by mjoke 

it would of been too late anyways.. i was expecting slv to do it and had the inverse up.. but not oil.

Silver was at 39.230 and settled at 36.240s at the close.

wow, just read about what an inverse ETF is.  Thats crazy.  And it has options.  How come I never hear too many people talking about inverse ETF's?

Quote:

Originally Posted by themav37 

wow, just read about what an inverse ETF is.  Thats crazy.  

Most of the commodities pulled the markets down to 139.41 today. Hope its a better day tomorrow at the head of the Jobless reports.

Pretty impressive bounce, good to see some much volatility back in oil

Big move in the futures back into the triple digits again

If Oil does drop to $70-80 I would buy as many calls as possible because it should be easy money from there.

http://www.arabianbusiness.com/alwaleed-says-saudi-arabia-seeks-70-80-barrel-oil-price--402447.html

Looks like a nice bear pennant forming. I'm looking for one more bounce off support before the next leg down. I would hope it plays out that way, my plan of alternating cars when ones out of gas is starting to backfire. Just filled up my sedan and cost me 80 bucks, now I gotta go fill up the other and that's another 80 bucks. 

That USO chart is starting to look like it might be a buy soon..

Dont get me started about free markets!

The SPR is not supposed to be used to randomly mess around with oil prices, in effect this is blatant and completely legal oil manipulation, its always legal when the Govt does it

Crude Oil Futures Decline on Slowing U.S. Consumption, IEA Reserve Release

By Rachel Graham - Jun 24, 2011 8:08 AM ET

Oil fell, extending its biggest one- day drop in seven weeks in London, on concern slowing U.S. economic growth will reduce demand and after the International Energy Agency said its members will sell oil from reserves.

Brent dropped as much as 1.5 percent, extending yesterday’s 6.1 percent decline, after the International Energy Agency agreed to release 60 million barrels to buyers starting next week. The U.S. Federal Reserve this week cut its forecasts for growth and employment this year and next.

“There are clear signs that the U.S. and Chinese economies are slowing,” Roland Stenzel, an oil trader at E&T Energie Handelsgesellschaft mbH, said from Vienna. “The IEA triggered a lot of stop losses,” he said, referring to the automatic instruction to buy or sell a commodity at a certain level.

Brent oil for August delivery dropped 70 cents to $106.56 a barrel on the ICE Futures Europe exchange as of 1:05 p.m. London time. The contract closed at 107.26 a barrel yesterday, the lowest closing price since Feb. 22. Crude for August delivery on the New York Mercantile Exchange was down 37 cents at $90.65.

The IEA announced the release of 2 million barrels a day for 30 days yesterday to make up for supplies choked off by an armed rebellion in Libya. The U.S. Strategic Petroleum Reserve will provide 30 million barrels, European members will supply about 20 million and Asian nations the remainder.

“The IEA stock release has had a strong impact on front prices,” Christophe Barret, a London-based oil analyst at Credit Agricole SA said in a report today. “It temporarily relaxes a stock obligation constraint and allows refiners to process more sweet crudes.”