RE:No conviction You are assuming it's human beings behind this selloff . Algoritms written by Ph.d's in math. And the human touch to the selling are guys who bought WCP at a few dollars and held until $ 11. Or humans that have margin calls and have to sell their best performers to cover their margins. There are no more " big boys" in energy trading . Remember , each and every panic sell event in recent history has been an opportunity. Each and every black swan event had the mentality that this time is different , it's never coming back. 2 things will ensure this never happens. First, traders make money from putting money into the market . Second , if it really goes to sheet, the feds will inject liquidity . The only question is , where is the bottom ? The trillion dollar question. If we get to an event where markets are down forever , I'm sure we would have other things to worry about. Money will be worthless when the nukes start flying .
Dogsbreakfast4U wrote: Not a very convincing trading day as we go into the weekend. The fact we could only close up 3.5% after multiple very large % drops is not encouraging. It will take some major shift in sentiment or a massive move in the oil price to reverse the downtrend. I am starting to think that the big boys know something that we dont to explain the massive sell off in oil related stocks in the the last 10 days. Perhaps a cease fire in Ukraine is being negotiated with the support of the demonrat administration or is the world economy about to fall off a cliff or perhaps some black swan events. We will soon find out.