|
Post by kbk3ck on Feb 26, 2012 8:42:35 GMT -5
|
|
|
Post by timber on Feb 26, 2012 8:52:29 GMT -5
|
|
|
Post by kbk3ck on Feb 26, 2012 9:07:45 GMT -5
Its so funny how those 2 assholes will screw workers out of pay and insurance to make a buck then turn around and give Millions to PBS so people can watch documentrys about how the Unions pulled workers up and out od poverty and created the middle class. LOL
|
|
|
Post by kbk3ck on Feb 26, 2012 10:05:16 GMT -5
BP oil spill trial to begin Mondaymoney.cnn.com/2012/02/24/news/companies/bp_oil_spill_trial/?source=cnn_binNEW YORK (CNNMoney) -- It's been nearly two years since the Deepwater Horizon disaster in the Gulf of Mexico, but the legal battle over the spill is just beginning. On Monday, a trial begins in Louisiana federal court to determine civil liability for the April 2010 oil spill, the worst in U.S. history. Among the defendants are BP (BP), the well operator and majority shareholder in the venture, rig-owner Transocean (RIG), construction contractor Halliburton (HAL, Fortune 500) and other firms associated with the project. Among the thousands of plaintiffs are fishermen, hotel owners and other Gulf Coast residents.
|
|
|
Post by Clinton SPX on Feb 26, 2012 10:30:25 GMT -5
Im not touching oil, Im glad this trade is working for you. But the fundi's dont support
per Bloom U.S. Inventories Energy Department said U.S. total oil consumption dropped 1.4 percent to 18.1 million barrels a day in the four weeks ended Feb. 17, the lowest level in more than 14 years. Oil supplies increased 1.63 million barrels to 340.7 million last week, the most since Sept. 23, according to the department. They were forecast to grow 1.35 million barrels based on the median of 10 analyst estimates in a Bloomberg News survey.
|
|
|
Post by kbk3ck on Feb 26, 2012 10:48:33 GMT -5
Oil use by volume in the USA has nothing to do with Oil Futures going up on fear and hoarding. As long as the futures on Oil stay up WORLD WIDE then the price of Gasoline Futures contracts will go up as well, world wide. USA included.
|
|
|
Post by Clinton SPX on Feb 26, 2012 14:05:36 GMT -5
Analysis: Oil price rise raises specter of global recession
inShare 9 Share this
Email Print Related News Iran uranium "discrepancy" still unresolved: IAEA Sat, Feb 25 2012 U.S., Saudi maneuver to contain Iran oil market threat Fri, Feb 24 2012 Iran has expanded sensitive nuclear work: U.N. agency Fri, Feb 24 2012 UPDATE 10-Brent jumps to 10-month high on Iran tensions Fri, Feb 24 2012 Lofty oil new headache for debt-ridden Europe Fri, Feb 24 2012 Analysis & Opinion India Markets Weekahead: Crucial levels may hold, don’t rush in yet Beware of distorted markets Related Topics Israel » By Zaida Espana and Dmitry Zhdannikov LONDON | Sun Feb 26, 2012 12:40pm EST (Reuters) - A jump in energy prices is jamming the slow-turning cogs of an economic recovery in the West, but that may be nothing compared to the economic shock an Israeli attack on Iran would cause.
Oil rose to a 10-month high above $125 a barrel Friday, prompting responses from policymakers around the world including U.S. President Barack Obama, watching U.S. gasoline prices follow crude to push toward $4 a gallon in an election year.
Europe may have more to fear as its fragile economic growth falters and Greece, Italy and Spain look for alternative sources to the crude they currently import from Iran, where an EU oil embargo, intended to make Iran abandon what the West fears are efforts to develop nuclear weapons, comes into force in June.
In euro terms, Brent crude rose to an all-time high of 93.60 euros this week, topping its 2008 record.
"The West's determination to prevent Iran acquiring nuclear weapons is coming at a price - a price that might include a second global recession triggered by an oil shock," said David Hufton from the oil brokerage PVM.
In dollar terms, oil prices are still some $20 a barrel short of their 2008 record of $147. But the latest Reuters monthly survey will Monday show oil analysts revising up their predictions for Brent crude by $3 since the previous month.
Such a change is big in a poll of over 30 analysts, and last happened at the peak of the Libyan war in May.
Ian Taylor, head of the world's biggest oil trading house Vitol, told Reuters this week prices could spike as high as $150 a barrel if Iran's arch-enemy Israel launched a strike at its nuclear facilities - an option Israel has declined to rule out.
"I used to think this would never happen," Taylor said, "but everyone you speak to says the Israelis will have a go at striking at Iranian nuclear sites.
"The day that happens, you have to believe the Iranians throw a few mines in the Strait of Hormuz and, for a few hours at least or maybe more, I cannot see a scenario where prices would not be at that sort of level ($150)."
The U.N. nuclear watchdog said Friday Iran had sharply stepped up its uranium enrichment, which Iran insists is solely for civilian purposes.
Israel has warned that, by putting much of its nuclear program underground, Iran is approaching a "zone of immunity," but it has also said any decision to attack is "very far off."
Wall Street bank Merrill Lynch said this week that oil prices could climb to $200 over the next five years.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
So far this year, dollar prices for Brent crude have risen by more than 15 percent, pushed up mainly by fears about Iran. The loss of supply from three small and mid-sized producers suffering internal turmoil - Syria, Yemen and South Sudan - has added to the supply worries.
WEAK GROWTH, HIGH PRICES
A stabilization of the U.S. economy may explain some of the rise in oil prices, but the global economy is growing far more slowly now than at this time last year, yet crude prices are just as high.
World equities and oil have typically been closely correlated since 2008 because both were driven by global demand.
However, as oil prices start to respond to supply problems, the correlation is evaporating, and the global economy is already paying a high price.
Data published this week showed unexpectedly weak activity in Europe's most powerful economy, Germany, and in France, sparking fresh worries that the region could tip into recession.
Few have forgotten that in 2008, within six months of hitting its all-time high, oil plunged as low as $35 a barrel with the onset of the global credit crisis.
In the United States, demand for refined oil products is close to its lowest level in nearly 15 years, indicating that motorists are cutting back their mileage.
"The price spike is going to be a challenge for politicians in the West running for re-election," said Olivier Jakob from the Petromatrix consultancy.
He said developed countries would find it hard to justify a release of strategic oil stocks similar to what they did in 2011.
Unlike a year ago, when Libyan oil exports were disrupted by a war, this year "there is ... instead a voluntary restriction on buying from a specific country," said Jakob.
Other than a release of oil stocks, developed countries could resort to yet another round of monetary easing, to which emerging markets will respond with quantitative tightening, price controls and subsidies, said analysts from HSBC.
"In terms of fiscal health, it would seem that Asia is better placed than other regions to deal with an oil price shock," HSBC said in a note last week.
|
|
|
Post by Clinton SPX on Feb 26, 2012 14:07:39 GMT -5
seems like bubble mania talk now
|
|
|
Post by kbk3ck on Feb 26, 2012 14:11:38 GMT -5
What was the first bubble? Tulip bulbs?
|
|
|
Post by jack on Feb 26, 2012 16:03:21 GMT -5
What was the first bubble? Tulip bulbs? Nah....it was known as "The Big Bang" and things have been increasingly inflated ever since.
|
|
|
Post by timber on Feb 26, 2012 16:42:22 GMT -5
|
|
|
Post by Clinton SPX on Feb 26, 2012 19:24:23 GMT -5
double top alert glad im out of all PMs Attachments:
|
|
|
Post by novice08 on Feb 26, 2012 20:29:55 GMT -5
|
|
|
Post by novice08 on Feb 27, 2012 13:02:46 GMT -5
Gold/silver holding up well considering it's opex for them.
|
|
|
Post by jack on Feb 27, 2012 13:17:38 GMT -5
Gold/silver holding up well considering it's opex for them. Cocoa futures up 2.5% to 2415.00....maybe they'll replace paper money w/ cocoa instead of gold? Well...at least you can eat it!
|
|
|
Post by Clinton SPX on Feb 28, 2012 10:00:14 GMT -5
GPL rallying w/o me
|
|
|
Post by Clinton SPX on Feb 28, 2012 10:25:09 GMT -5
SLV breakout trend res Attachments:
|
|
|
Post by Clinton SPX on Feb 28, 2012 10:30:59 GMT -5
Long HL@5.30 gonna play the break out
|
|
|
Post by Clinton SPX on Feb 28, 2012 10:36:46 GMT -5
above avg shorting of HL lately (last 6 days) either theres bad news coming or a possible squeeze
|
|
|
Post by jack on Feb 28, 2012 10:39:28 GMT -5
above avg shorting of HL lately (last 6 days) either theres bad news coming or a possible squeeze It was OPEX for PMs (and presumably miners) yest according to Novice...fwiw.
|
|
|
Post by Clinton SPX on Feb 28, 2012 10:39:59 GMT -5
GPL is still my fav silver play
|
|
|
Post by novice08 on Feb 28, 2012 12:44:58 GMT -5
|
|
|
Post by Clinton SPX on Feb 28, 2012 12:48:58 GMT -5
EU is going to announce they are flooding the market with fiat tomorrow. Your seeing a whole lot of front running today
|
|
|
Post by jack on Feb 28, 2012 12:52:15 GMT -5
|
|
|
Post by novice08 on Feb 28, 2012 12:58:02 GMT -5
Ask, your business should be picking up! LOL!
|
|
|
Post by ask2lern on Feb 28, 2012 12:59:32 GMT -5
Size of that market makes it easy to run...............I would be cautious chasing here as I agree with Clint that we are seeing front running and could get ugly fast if/when the big $$ wants out IMO.......................I can tell you retail is NOT buying but rather selling.................physical markets are overflowing with product gold and silver..................
|
|
|
Post by ask2lern on Feb 28, 2012 13:01:58 GMT -5
Ask, your business should be picking up! LOL! Yup it is but the majority is sellers.................good for me as I make the same buying or selling.................. ;D
|
|
|
Post by Clinton SPX on Feb 28, 2012 13:15:00 GMT -5
European shares edge up ahead of ECB fund bonanza LONDON, Feb 28 - European shares edged up on Tuesday as investors braced for the next round of the European Central Bank's (ECB) injection of cheap cash for banks, a major factor in driving the market's rally in 2012.
|
|
|
Post by ask2lern on Feb 28, 2012 13:30:58 GMT -5
|
|
|
Post by Clinton SPX on Feb 28, 2012 15:24:01 GMT -5
HL looks like it finally ramping up lighting the HOD ahead of the SLV
|
|