You're the one claiming to know so much about the futures markets and
how prices are manipulated. So, why don't you tell us? Before I
went around spewing about how something should be banned, I would at
least understand what was going on. And I'd start somewhere other
than a hysterical news report about a guy trading one futures contract
being responsible for pushing up the world price of oil.
BTW, along the way, maybe you could learn the correct terminology.
Because amateur isn't even close to what you're talking about. I've
never even heard anything so silly. Amateurs manipulating the futures
market. LOL The typical amateur opens an account with $10K and
blows it out in less than a year.
All I have to go on is endless stories like this, all of which are as true
as they can be. You will now argue otherwise.
You will notice that it's nothing but guesswork & theories, exactly the same
"system" employed by stock analysts.
"With little other news to motivate buying or selling, investors focused on
forecasts by analysts including Addison Armstrong, director of exchange
traded markets at TFS Energy Futures LLC, who predicted crude supplies fell
by 1.5 million barrels last week. Tim Evans, an analyst at Citigroup Inc.,
predicted that crude supplies fell by 2 million to 3 million barrels."
Crude futures have since retreated as OPEC boosted supplies and several
forecasters cut demand predictions. But in recent weeks, prices have held
generally to a range between $87 and $95, leading some analysts to conclude
some investors may be poised to make another push for $100 a barrel in the
But there is little consensus on that theory. Other analysts maintain that
oil's fall rally was driven more by speculative buying than the underlying
fundamentals of supply and demand. Analysts in this school of thought
believe oil's true value is closer to $50 or $60 a barrel.
"Although we cannot predict the highs and lows of oil prices, we are more
certain that volatility will continue and the current bubble will eventually
burst," said Fadel Gheit, an analyst with Oppenheimer & Co., in a recent
Well, there's at least one serious buyer out there. Somebody will want the
oil in the future. Now maybe there are a 1000 people buzzing around trying
to guess or manipulate the price for each single company that wants to buy
oil, but SOMEBODY wants or will want the oil.
The people in the business know their needs and can properly evaluate their
costs. In the main they ignore the amateurs who are trying to guess what the
professionals will do - unless the professionals see a remarkable chance to
screw the amateurs big time, like the electrical suppliers did to the state
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