fuck yea
come on 99.
Glad i wasnt greedy and took my profit when I could.
couple PMed me about how to do so over the weekend…i will be responding when i get to work.
holy shit nice :tup:
The best proposition I’ve heard was to simply up the margin requirements to match those that are already used for stock purchases.
wasn’t gas hovering around 2.75 a gallon when oil cost sub-110 a barrel?
im still paying 3.65-3.85
crude oil -> pipelines -> refineries -> trucks -> gas station.
It’s a slow process, with a bunch of shit involved. Oil price jump/fall /= gas price jump/fall. At least immediately.
^ Yep. Picture a small weight dragging around a big weight by a rubber band. As the small weight takes off the big weight moves very slowly at first but eventually catches up. That big weight was gas prices as oil skyrocketed. As oil went from 100 to 130 gas barely moved at all then finally started climbing. As oil stopped climbing gas continued going up for 2-3 weeks while it was playing catchup.
Now we’re starting that whole process over again but going in the other direction.
http://tonto.eia.doe.gov/oog/ftparea/wogirs/xls/pswrgvwrec.xls
but there is a new storm … i think 112 for today
It’s gonna hit the atlantic coast. Not gonna get into the gulf. Shouldn’t be a problem
yeah hurricane hanna is not going to be affecting those refineries. It is however going to put a damper on my fucking weekend.
I am liking these crude oil prices for today. Hopefully it will close below 110
Oil $109.50 -$5.96
Heard on the radio it was down almost 7 to around 108
Awesome! I’m so naming my son Gustav.
-1.94
107.77
thats understandable, but gas prices increase when oil increases within hours. speculation aside, i think alot of it has to do with the achievement of a maintainable profit margin. When hurricaine helen threatens (i should say if, but lets just assume for sake of argument that a hurricane will threaten again…) gas prices will instantly jump as oil will rise. but when oil drops after (much like with gustav) there is no appretiable drop in the gas prices.
even if oil hits 100/bar., were never dropping below three again.
The problem is, no, they don’t. People like to believe that because it fits into their desire to believe the big oil company conspriacy but gas prices held very steady during oil’s record runup. It was all over the news at the time but people ignored it because it didn’t fit into their preconceived notion that they were getting scewed.
http://www.consumeraffairs.com/news04/2007/09/gas_prices178.html
The truth is it’s the same reasons it took a while for gas to catch up to oil when oil went up that are causing it to take a while to catch up now that oil is going down.
I’m still betting oil will be near $80/barrel by the end of the year. I said it when it was nearing $150 and everyone called me crazy while saying the people calling for $200 oil were right.
I was very happy to see that Ospraie Management, a huge commodities trader, was shutting down their big oil hedge fund after taking a 38% loss.
If you want to look at crude prices versus gas prices, check this out.
The trends follow each other pretty well.
Since gas buddy custom charts don’t seem to link well…
+1
+2
well… betting, no… praying to the sweet dear lord, YES.