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Started By
Message
Oil is getting Nailed!
Posted on 6/21/12 at 1:50 pm
Posted on 6/21/12 at 1:50 pm
Oil Down below $80 a barrel, copper is getting nailed. The commodity outlook doesn't speak well for the global economy. I thought we had some support and floor for oil around $80. Better watch out if you own junior drillers and explorers. Margins maybe impacted!
4
Posted on 6/21/12 at 2:01 pm to greenhead11
Just in time for election!!!!
Posted on 6/21/12 at 2:15 pm to greenhead11
Facebook is about the only thing up today. I guess gossip increases as economies tank. Or something like that.
Posted on 6/21/12 at 2:28 pm to greenhead11
Luckily I have a big slug of my portfolio in BP.
I'm going to keep my trigger finger on the buy button for DIG.
I'm going to keep my trigger finger on the buy button for DIG.
Posted on 6/21/12 at 3:03 pm to KT70
That's a doubled edged sword. Of course oil being down helps consumer confidence etc for Obama, but it is also indicative of poor economy. But the average uneducated voter, low oil and gas is better for Obama
Posted on 6/21/12 at 3:04 pm to TheHiddenFlask
Be a gutsy call, I just don't see any catalyst for the upside other than oil being over sold
Posted on 6/21/12 at 3:04 pm to greenhead11
quote:
That's a doubled edged sword. Of course oil being down helps consumer confidence etc for Obama, but it is also indicative of poor economy. But the average uneducated voter, low oil and gas is better for Obama
Posted on 6/21/12 at 3:08 pm to TheHiddenFlask
Should have played the VXX today
Posted on 6/21/12 at 3:17 pm to greenhead11
A family member works for a local company dealing w/fuel, & said a "significant" price correction was coming on what was sold to the stations after later on this evening.
What this means to any "boots on the ground" laymen types:
If you need to fill your tank right now? DON'T. Just top off until the price hits the pumps later in the afternoon Friday or sometime Saturday Morning.
Free advice.
What this means to any "boots on the ground" laymen types:
If you need to fill your tank right now? DON'T. Just top off until the price hits the pumps later in the afternoon Friday or sometime Saturday Morning.
Free advice.
This post was edited on 6/21/12 at 3:19 pm
Posted on 6/21/12 at 3:37 pm to greenhead11
Maybe someone will buy my truck now.
Posted on 6/21/12 at 3:58 pm to greenhead11
quote:
low oil and gas is better for Obama
That won't do him much good if unemployment starts rising again, and that is more or less what the drop in the oil price is predicting.
Posted on 6/21/12 at 4:43 pm to KT70
quote:
Just in time for election!!!!
funny how this just....happens
Posted on 6/21/12 at 5:06 pm to Jahel
A sluggish economy with high unemployment in every sector....I'm shocked oil stayed as high as it did for as long as it did. If oil prices match the equivalent of the depressed NG prices you will see rigs laying down everywhere and a frozen shale boom. This will result in a new wave of unemployment in the so far recession proof O&G industry, which means HIGHER unemployment figures.....I'm sure that's exactly what Obama was hoping for. 
Posted on 6/21/12 at 5:10 pm to Jahel
The decrease in oil price is due to slowing of world economies.
Posted on 6/21/12 at 6:01 pm to greenhead11
quote:
That's a doubled edged sword. Of course oil being down helps consumer confidence etc for Obama, but it is also indicative of poor economy. But the average uneducated voter, low oil and gas is better for Obama
:kige:
Posted on 6/21/12 at 7:47 pm to jimbeam
Let's be honest, this "average uneducated voter" is probably going to vote for Obama regardless of oil prices.
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