Posted on 09/17/2012 11:21:29 AM PDT by blam
Oil Just Tanked Out Of Nowhere...
Joe Weisenthal
September 17, 2012
Trying to get to the bottom of this.
Oil just tanked.
Here's the USO (ETF), which is a decent intraday proxy, falling nearly 3% in a flash.
There's some chatter it's a fat finger, and others wondering if there's some kind of Strategic Oil Petroleum related news.
More to come as we figure it out.
(Excerpt) Read more at businessinsider.com ...
I’d go with the fat finger for this and the middle finger for what comes next.
Do not trust this Joe Weisenthal character. He is a shill for Obama. He is constantly ridiculed by readers of TBI for his flawed business analysis.
I noticed that too Blam. Thanks for the post. I was about to mention it myself.
Rumors of an imminent announcement by Obama of an immediate SPR release.
Obama is pulling out all the stops to save his election, no matter HOW MAUCH it costs you.
If Obama is so far up in the polls, like the media is claiming, why all these desperate, panicked moves?
Sorry, that was me.
I hit the wrong key, Sell instead of Buy..........
I sold short a crude futures contract w/a stop at 98. 43 seconds later my buy limit of 95.65 was triggered. Never seen it happen that fast but at least I was on the right side of the trade.
It didn’t take out of nowhere. It tanked when someone mentioned opening the Strategic Oil Reserve(which is election year BS). There’s no supply problem. There’s plenty of oil in the country.
I'm well aware of that.
In fact, I'm no longer allowed to post comments there any more.
Darn, I have two palladium Maples I was thinking about selling over the weekend, and this am woulda been perfect for a price lock. I did not buy them right. Worth about $18 less each now.
The graphs are highly misleading — most of the bottom parts are missing, thus making a small correction look like “tanking”.
The Dow went south pretty quickly too..down 53 now.
Obama just traded the State of Israel for six trillion barrels and two virgins to be named later?
That article doesn’t address why crude dropped over 2% in less than 1 minute.
who’da thunk obama would install an energy secretary who pines for European gas prices at $9+ a gallon
then acts like $4 a gallon is a national emergency and uses the SPR as a personal stash to try to lower gasoline prices - until after the election
Anyone noticed how many “crises” obama is stacking up for us until “after the election”? Holy shi-ite.
My fault. I just bought more USO today, that’s why it tanked. Happens to me every damn time.
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