This price action (CL, GC, SI, etc.) suggests market is sensing something. And this something is that most likely soon it will be confirmed Qadaffi is out of the game. Mark my words. See ya tomorrow.
But the price of oil falling from 103 to 97 is saying you are wrong. Price of oil falls because apparently Qadaffi is losing control and his days are numbers. Market is always right. And you are wrong.
Catnip, you are wrong. Most of Lybian oil fields are in the eastern part of the country where Qadaffi apparently lost control. Oil went up because of fear of he sending the army there to take control back. So if Qadaffi is out of the game, then this fear is going to be priced out of crude oil price.
Of course if this news was real, then oil would have been already below 90. But apparently it is not true. What I wanted to mention is that we are witnessing the beginning of unwinding of speculative trades expecting another Armageddon. So watch out for this sooner than later. Gold is already below 1400.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(11 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(11 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(11 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (11 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (11 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (11 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(11 months ago)
See ya tomorrow.
But just Brent trades on ICE, WTI trades on NYMEX/CME.
Besides gold and silver are taking a big hit as we speak.
I warned you yesterday.
Price of oil falls because apparently Qadaffi is losing control and his days are numbers.
Market is always right. And you are wrong.
Most of Lybian oil fields are in the eastern part of the country where Qadaffi apparently lost control.
Oil went up because of fear of he sending the army there to take control back.
So if Qadaffi is out of the game, then this fear is going to be priced out of crude oil price.
What I wanted to mention is that we are witnessing the beginning of unwinding of speculative trades expecting another Armageddon. So watch out for this sooner than later.
Gold is already below 1400.
Game is on. Watch out.
http://www.zerohedge.com/article/gaddafis-private-plane-reportedly-loaded-gold-ready-leave-zimbabwe-early-tomorrow