Posted on 11/01/2004 10:38:32 AM PST by Tumbleweed_Connection
I can't imagine what Kerry would do for speculative oil markets.
Unless, the attacks might increase due to a weakness in the admin.
OMG! What a load of horsecrap! I said a week ago that oil would drop in price the day after the election because those who have driven the prices up would turn loose on election day as it no longer serves their purpose. Stock market will also rise as a result. Yhis does not depend on election outcome.
The writer of this piece has to be a kerry shill or a bleeping idiot.
I predicted this exact movement in the oil futures market two months ago. The speculators ran up the price of oil to hurt the Bush administration. I predicted that you would see the price of oil drift downward the week before the election. The first to sell the oil futures will stand to benefit more from the higher prices. The downward movement in the market should not be viewed as an endorsement of Kerry. It is simply the predictable acts of those who were aiming to hurt Bush and then make some money as well.
It's utter disinformation. Like the "Iran" line - they pump the same whether we yell at them or not.
The article's purpose is for tomorow's headline for the sheeple: "Gas Prices Lower With Kerry".
As an afterthought, we think that the restoration of nearly 90% of the production lost to Hurricane Ivan might have an additional small positive effect. But we really think the Kerry win will make the world a happy place again. Really. We do. Oh, and oil prices will decline.
Folks, the US had added 164,000 barrels A WEEK to the SPR since the decision to fill it to the top (with a few loans to smaller producers during IVAN). The restoration of 100,000 barrels a DAY from GoM is a BIG deal.
China buys low-grade crude - stuff that we can't refine anyway. We import more refined product today than ever - because the EPA won't let us build refineries.
Our oil problem is a refined product problem, not a crude problem. That is how the environmentalists want it - they want the price of gasoline as high as they can get it to force us out of our SUV's and into hybrids.
the connection, unstated, is that a kerry presidency will stall the united states economy. the economy will require less oil since less people will have to go to work. therefore, oil prices will fall.
High oil prices = Bush's fault. Wouldn't ya know this was from Reuters...
A short squeeze occurs when those who have sold short are forced to BUY in order to cut their losses, thus driving prices higher, which makes their losses larger, which causes more buying - see the viscious circle? - until the "buying to cover shorts" is exhausted. Shrewd squeezers start this process by aggressive and targeted "buying attacks" on securities or commodities that are heavy large short positions.
At the point that the short covering is exhausted (shorts have covered all positions) , the shrewd squeezer would sell the "attack" positions <|;.
Think of a short squeeze as a margin call in a RISING market, the opposite of a margin call in a declining market.
If you are suggesting that short covering was exhausted today and shrewd squeezers are now selling, then you are very insightful.
UK bookies are picking Bush to win:
They picked the Australian elections last month that was a "dead heat" in the polls. They are more accurate than pollsters. Even the lefty UK Guardian said the bookies were picking Bush to win.
The bookmakers have not wavered.
http://www.realclearpolitics.com/Presidential_04/RCP_Markets.html
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.