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United States Oil ETF Message Board

  • sideshow32raheem sideshow32raheem Jul 17, 2008 1:52 PM Flag

    105. Ouch.

    This thing is dropping like a rock.

    Commodity prices based on true fundamentals in an ultra efficient modern electronic marketplace trade on narrow margins. They does not see wide bipolar swings. The market does not crap its pants like this.

    Proof positive that oil over the past couple of years has been run up by blowhards and dumbassery.

    There's no telling how far this thing falls. I don't think there's any way you can call a bottom on this.

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    • Oil is only down because of the supply data that came out earlier this week. With crude oil prices dropping as fast as they are, demand will shoot up here in the US, and we'll experience a shortage.

      Short-term= oil falls to 120s.
      Long-term= oil rises to 140+.

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