how can the majors AND refiners all be down at the same time?
its not like the bailout affects whether or not people use gas, for petes sake. So they cut back a bit here and there, even a few percent shouldnt matter much, and even after all the decreases in the size of the transportation economy are factored in, we only saw demand shrink one half of one percent during the biggest economic contraction since the Great Depression. And now because of some bill, everything is off 25% in a matter of weeks? Ridiculous!
still its LAME. BP Is a stock I like, ive been trading it, not holding it today but I have lost money on the refiners today, which ticks me off.
And Im firmly opposed to this bailout crap. It ticks me off that the market is down because the bailout hasnt yet passed, and if it passes, by logic the market should really tank becaues thats 1T in extra debt that will be charged to Americas bank account, which has to be paid by the american taxpayer, and there is no shot in hell of Americans paying the debts we ALREADY have. The market should have been SAILING up with the prospect of no bailout and instead it goes DOWN?
Up is down, black is white, right is wrong, etc. The whole country and world have gone topsy turvy. I might as well start mailing my bills back to my creditors with the amounts reversed and tell them they OWE me. Heck, should be just as plausible to them as the way this stock market behaves.