yeah meanwhile all the oil producing countries who actually want oil higher, even iran, said it was speculation. go figure.
oil can only rise based on contracts being purchased its that simple. oil rises on purchases of contracts on the nymex.
i find it extremely hard to believe that for 30 years the contract purchases were orderly and fair then in 2004 at the height of speculation, oil suddenly became "scarce".. now with oil back over $60 the speculators are back, fully government funded this time! because they lost all their money and were insolvent before.
as for amazon, i think the crooks are going to take it over $100 this summer, maybe even $105.
no i wouldnt be surprised if this fell right below $50 by end of year, starting today, but i view it as unlikely, even if fundamentals warrant it.
ill say it again, i wouldnt short unless this stock breaks $73, the old monthly low. if that happens id short carefully maybe.