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Energy Select Sector SPDR ETF Message Board

  • MINCE38 MINCE38 Nov 11, 2008 10:10 AM Flag

    question about oil drop for board...

    Todays yahoo oil headline: "oil drops $4 amid stockmark et concerns." Last week it was "oil lower on economic concerns". Can someone explain this to me. Im very con fused. Since when is OPEC concerned with our stock mark et or its investors? You mean when oil rose 'amid middl e east tensions" that was ok? We have no more tension i n the middle east now? We all shook hands and made peac e? We are coming home from Iraq? Iran is disarming? Can someone explain what these things mean? Is it possible OPEC doesnt have the power we thought it did! And how can futures traders have this much impact? Look at the disparity between gold futures prices and gold coins. D o the headlines mean in english:"We have no clue why oi l is dropping but we need a headline to print." Also , do all of you remember yahoo reporting in august that 11% of all sept. oil futures contracts were held by on e entity? What about october and november? Are we being driven down by a handful of people controlling the world????? Its scary, isnt it?

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