Posted on 09/17/2012 12:02:16 PM PDT by Kartographer
Jittery afternoon in the oil markets, where crude futures plunged $3 in less than a minute shortly before 2 p.m., for no immediately obvious reason.
In such cases, the chatter inevitably turns to the Strategic Petroleum Reserve. But we have no credible reports of a release at this point. Heck, we don’t even have a shady report to point to. CNBC’s befuddled anchors are just now floating the idea that options expiry may be playing a role.
And CNBC has a White House spokesman saying there’s no change to the strategic petroleum reserve.
“Fat finger” error? Probably not: Brent moved and a few other commodity markets weakened around the same time.
(Excerpt) Read more at blogs.barrons.com ...
Too bad GASOLINE can’t drop $3 in a minute..........................
Did they run up prior to the protests?
Flash crash?
No it’s not odd. In fact it’s common when you have stressed out markets to for them to run one way then the other for no apparent reason then ....that’s what they do.
Someone is manipulating the market so that they can get in at a lower price right before the attack on Iran.
Obama is planning on announcing that ALL gas costs for his constituents will be met by the US Strategic Petroleum Reserve, contracted though “Holder’s People Representatives” to ensure “By Holder’s People, For Holder’s People.”
In no way does this mean that this hasn't happened. The most transparent admin in history is anything but transparent.
Or maybe....THATS WHAT THEY WANT YOU TO THINK!
hahahaha
this is not your father’s Oldsmobile, is it?
Used to be buy / hold 2 for 1 splits - now it’s watch for the automatic computer driven purchases/sales manipulate this market. Soros money at work. Buffet money at work.
For all of us baby boomers - these last years and now especially is doomsday for any retirement we had planned. About 5 years ago, I cut out a cartoon that showed a man with his financial planner, saying he’d now have to work till he was 75! Not so funny any more.
Come on folks - volunteer to get Romney/Ryan elected. Bernanke must go / Zero must go.
No I used to be a grain trader at the Chicago Board of Trade. During a drought I’ve seen grain prices go from panic buying to panic selling in a couple of minutes. It’s only odd to someone who doesn’t trade. Put it this way...If the markets made sense and were easy to predict we’d all be billionaires.
Did Hussein 0bama let loose some of our strategic reserve to help his fading popularity, never mind about potential military needs or national emergencies?
Well now, it seems that some of the missing stimulus money is being put to work.... just a few weeks from the election. Hmmm...
No, it wasn’t. Yesterday the saudis expressed alarm at the skyrocketing price of crude and said they feared it would kill the economic recovery around the world and they announced they were going to take ‘material steps’ to bring prices down.
I guess no one reads ME news unless it means trouble for us.
Gee! Now we’ll save 50 cents a gallon before the election. That will give us all relief to vote for Barry. Wonder who told him this would work?
Horsecrap. If the markets made sense, they wouldn't necessarily be easy to predict.
Grain futures trading on droughts is REAL. It makes sense. It's not easily predictable.
Whipsaw instability due to millisecond false-signal trades trying to inch out millions of dollars on false bids is not the same thing and it's not the same thing as legitimate automatic computer trading.
Sam ....
Horsecrap?//Really?...I know of what I speak I was a in the soybean pit during the drought of 83 and beans opened limit up. 30 cent limit in those days. Then all of a sudden they plunged to limit down...back up to limit up... then closed steady on the day all within an hour.
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