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  • chemaes44 chemaes44 Apr 26, 2011 8:26 AM Flag

    Oil, week of April 25

    Jeff, Jeff, jeff, it ain't that simple my friend.

    Anytime governments intercede in markets and speculators get wind of it, the speculators take the governments to task and more times than not the speculators win out once they start the momentum against the government. Think Soros and bank of england sterling, think japans intervention in currency markets last fall, think argentina.

    It's like when people talk about releasing strategic reserves to help oil. The speculators would pile on taking the opposite position because the state had one bullet left in its gun and they fired it, what would the gov have left? Speculators would smell blood and pile on.

    I'd argue oil being the most used commodity in the world, is the most liquid currency in the world and unless every gov participates in a manipulation scheme, it would fail.

    Why stop at oil, why not have the gov intercede in forestry, gold, grains etc. Where does it stop and what affect does it have on markets that each government is engaged in protectionist actions?

    What if Obama did what you wanted and the speculators destroyed him. Would you be screaming he just added more to your deficit then?

    I thought Bush was a bubbling idiot, but it didn't help me make money complaining about it. Hoping for an idiot president to do what you want them to do in order for you to make money isn't going to put any more money in your or my pocket.

    The political and religious back and forth on the last board i was on -slw-, which I didn't participate in, was what lead to the demise of the last board. Right now they are arguing about goyim, supposedly a pejorative jewish term. What does a goyim have to do with where silver is

    I'd much rather hear your trading strategies on what your take is on the bollinger bands, call/put strategies, stocks you're looking at and potential setups etc.

    I guess I'm a liberal when it comes to helping folks but conservative when it comes to taxes, but I haven't voted in 10 years, so this probably sounds oxymoronic (no revenue from taxes but i want people to be help or not voting), perhaps I I'm just a moron.

    All the above said with the utmost respect.

    good trading

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    • From what you say, the speculators have a lot of power. To try to be a bear in an area where the speculators are bullish is just giving away money. Is there any way to determine when speculators are changing direction? Does reading charts really give pertinent information when the speculators are in charge? I noticed that the speculators have grabbed a hold of silver. The folks advertising now to sell people to buy gold and silver now that silver is having its run. That was a good play you made in silver. I wish I listened. I hear your frustration about boards being run afoul with folks spouting nonsense about politics, etc. Once in a while the folks on this board diverge. MJ really didn't deserve that tongue lashing.

    • Amen to absolutely everything you just said. The last thing we need is the government trying to manipulate markets even more than they already do.

    • I'm not Jeff, I'm Martin.

      For every instance you can come up with of a government intervention failing I can come up with one where it worked. Think financials in spring 2009, EU debt last year, the Fed the last 2 years, Yen a few weeks ago, etc.

      The failures occur when governments aren't on the same page, and/or act timidly.

      I don't necessarily agree with the government doing what I suggested, but for Obama to come out and act like nothing can be done is ridiculous. If he was being honest he would say, "I could intervene in the oil market and take the speculative froth out of it, but I'm not going to because doing so runs counter to my political agenda, but I don't want you dumb voters to know that, so I'm going to pretend that I can't do anything about it."

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