Oil Slick Stuff

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Here lately it seems the market does not care what is happening to the oil price. I've noticed this happened once oil passed below the $60/barrel price.
 
I think the upward trend this morning is basically due to Oil, but JMHO! What else, the election???:D
 
Not the election. Most of the DOW loss is due to Wal-Mart. I'm thinking this bull market is just pausing to catch its' breath.
 
Well, anything can happen, you know me I'm not as slick as the really market savy guys, just do the best that I can.:embarrest:
 
FYI:D

Oil falls under $58

Prices extend their losses after slight increase in U.S. crude stocks, as analysts point to weakness in U.S. economy and doubts about OPEC's commitment to production cuts.

November 2 2006: 11:26 AM EST


LONDON (Reuters) -- Oil prices slipped below $58 Thursday, but remained in the middle of a month-long trading range after U.S. oil data showed a modest rise in crude inventories but sharp falls in fuel stocks.
U.S. crude fell 92 cents to $57.77 a barrel after ending just 2 cents down on Wednesday, when prices whipsawed in a $1.65 range. London Brent crude was down $1.09 at $57.89 a barrel.
http://money.cnn.com/2006/11/02/markets/oil.reut/index.htm?postversion=2006110211
 
Show-me said:
I forgot to add this last night. Yesterday morning gas $1.96, then on the way home $2.11:mad: :confused:.
Click to expand...

Sure glad gas prices aren't manipulated! :p

In Colorado we have 85 octane. That is finally 'down' to $2.09/gallon.

Heard on CNBC a talking head saying they thought consumer spending would go up due to 'cheap' gas prices. HELLO!!!
 
weatherweenie said:
Sure glad gas prices aren't manipulated! :p

In Colorado we have 85 octane. That is finally 'down' to $2.09/gallon.

Heard on CNBC a talking head saying they thought consumer spending would go up due to 'cheap' gas prices. HELLO!!!
Click to expand...

Yea and I like this one. When gas was racing up to $3/gal talking heads were saying the poor were getting pinched. Now that were back down to $2/gal consumer spending should rise. Yea right.
 
AP
BP Refinery Gets Bomb Threat
Friday November 3, 12:16 pm ET Bomb Threat Is Called in to BP Refinery in Indiana, Boosts Oil Prices
WASHINGTON (AP) -- A bomb threat was called in to BP PLC's large oil refinery in Whiting, Ind., early Friday morning, a company spokesman said. News of the threat helped push oil prices higher.
http://biz.yahoo.com/ap/061103/refinery_bomb_threat.html?.v=3
 
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Nnuut,

If I can make over 2% after cost, on a short-term trades, I'm happy! Still learning, and not doing very well on short trades. I have learned to have tighter stops when shorting this market. I was given a signal to short the QQQQ's a few days ago, but passed for now. It's fun trading with my sons college money. Saved for his college, but didn't need to use it. Debt free with good income is sweet. I think they call it pay is you go. Something our government needs to implement.

http://finance.yahoo.com/q?s=qid

Thanks for the post. Working out back and checking on things during breaks.
 
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