Bloomberg Market Manipulation on right now (Rediculous)...
It's 9:30pm on the East Coast Right now. I went to the Bloomberg channel (103 on Comcast) to see if I would get any updates on NG overnight prices. The bottom of their screen runs, headlines and ticker tabs, 24/7. Within 5 minutes, I read a headline stateing, "NG decreases in Inventory will be muted, due to above normal temperature forcast". Ok, so I'm bumed as I am long. I switch the channel only to come back to Bloomberg within another 10 minutes. Shortly, there after, I read a headline stating, "Heating Oil up as forcast call for colder temperatures". I have never seen more blantent Market Manipulation. I hope other people here, will go and watch Bloomberg now. Am, I crazy, or is any one else seeing this. This is truly absurd. Give it 10 to 15 minutes and you will see the headlines as they cycle through.
The headline concerning Heating Oil has been dropped all together. I just recorded 32 minutes on my Iphone, where , I saw the natural gas headline repeated 6 times. Convientiently, the Heating Oil headline is no longer there. I was infuriated when I read the headline earlier. It can't be warmer for one commodity and colder for another. It may not be manipulation, but it is truly a testament to our biased media putting their own spin on things to support their wants and beliefs. I always thought reporters were supposed to be objective and report only the facts. What a bunch of BS! And I tell you, CNBC anchormen/women are some of the worst. Thanks for the responses and I'm glad to see that other people are aware of the conflicting headlines that are being run. Eitheir way, tommorrow is going to be interesting. I'm anticipating the largest drawn dawn seen in the past 2 years.
The draw is based on the privious week. Last year with all the small draw downs in the second week of December we had 104 BCF draw down, we havent had a 100 BCF draw yet this year. Next weeks report will show a high draw down of over 100 but not tomorrow.
I complained to bloomberg along time ago about their dumb headlines to their stories. The headlines are really bad like that . I see it all the time. Its not market manipulation. Its just dumb reporters and dumb editors.
Actually heating oil is used mainly up north in areas where natural gas isnt availble, in the very upper northern states which has been colder, but you have to look at the usage of NG in the entire country which was less as most states had above normal tempatures. Only 47 percent of homes are heated by natural gas. Your southern states use alot of heat pumps to heat homes which is done by electricity. Alot of the East coast produces electricity from nuclear power plants. But i agree Bloomberg is notorious for writing articals that seem to favor wallstreets crimminals.