RE: today
When oil is up more in two days than the total price of a baril just a few years ago something is out of whack. When the elevator's rope will break HOD acn be at $6.00 $7.00 or $8.00 it won't mater much. It will fly.
It's as if every day market analysts from large investment firm are projecting new high. Could they be doing so to recoup shortfalls in real estate mortgages desaster.
Libya threatened to cut production and OPEC's president said prices may reach $170 by the summer.
Is it not nice of them.
I wonder also if the ''sovereign wealth princes'' driving Bentley's and Ferrari's are reinvesting there oil gains in the oil comodity mkt. It's a nice way to keep price high.
Eventualy it will stop. Remember silver whent to $50.00 a once early 1979 when W H Hunt pushed the price of silver up to that level but a few years later his liabilities had grown to nearly $2.5 billion.
Large funds and Institutions represent several shareholders not like the 1920's but that does not mean they don't distord the real markets in the same way that they did then.
Many of those players are the same that lost big time in 2000 Internet buble, the 2007 real estate subprime buble burts and they are positioning them self for strike out.