hit 1.484 over night. and has moved back to 1.4578 currently.... that is good news. Brent Crude went 137.5 then down $3.50 to $134.... Now has jumped back up 1.66... That is some volitility
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Monday, June 9, 2008
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2 comments:
Dollar and oil have been running in the inverse for several weeks... maybe this will change.
I still don't understand how speculation can raise the price of next-month futures of oil.
I like the China meme about oil sequestration.
If the futures contracts don't affect the price, then they violate one of the fundamental market principles of supply and demand. Futures have to affect supply and demand... Have to.
I'd suggest that instead of settling end of the month, they roll them over daily or weekly.
There are some interesting divergences in the past 2 months between euro-dollar/Oil.
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