[the invisib1e hand]

dig up a chart of crude. the pattern is a classic buying panic. it's parabolic. things can't be parabolic forever. buying frenzies don't end quietly... they often have a "blow off top." Generally speaking, of course.

Everyone and his mother will sell as much oil at 70+ as he can 'cause he knows it's not worth half that much. Wouldn't you?

[xrp]

Yep, I have my sell orders in for tomorrow morning @ the bell!

[Dave Olson]

I agree with you about this being a buying panic.

It looks to me a lot like the silver panic of about 25 years ago. When the price went from about $5/oz. to about $50/oz., people started selling silver bullion, coins, flatware, jewelery... Result: the price collapsed back down to about $5.