Oil up 24+% today!!!!!!
 

Wow - $105 to $130/barrel. Insane. Biggest gain in a single day. :disgust

What caused the jump.

It ended up falling back to just under $121. Reason given for the jump is - steep drop in the U.S. dollar and speculation that the proposal to stabilize the financial sector might help revive economic growth.

I am so tired of oil prices and the insanity.

that is just not normal

the US bailout plan caused a huge depreciaton of USD today.
The depreciation of USD is forcing people to jump in hard assets.
There is no free lunch.

Bush is causing as much damage as he possibly can to our country before he leaves office. I hope all you guys that voted for him are proud of yourselves.

You...

I'm totally scared of my oil bill this winter, not going to be pretty

Its because of the traders who are no longer able to short the bank stocks. They have to balance their hedge funds, so if they can't short, how else can they drive down price? Buy oil, and short futures. The gov's ban can only prolong this so long.. The market is like water, it will always find away..

i trade oil for blowjobs.... something for you to think about... :thumbsup

Someone made major pay today

The October crude contract expired today forcing shorts to cover on what was already low volume trading. It resulted in an interesting spike. It will settle back down.

i dont know.. there were a lot of people and corps dumping money markets the last few days..

hard to say whats going to happen this week..

i think it will take at least a few weeks for the markets to settle down...

there is already talk that the bailout isnt close to being enough...

the currency markets have been very nice though... lots of smooth ups and downs... :thumbsup:thumbsup

Bullshit excuses to keep oil profits maximized.

The media and wall street would have you believe that the world is coming to an end.

Uncertainty and fear are what is responsible for all the volatility we are experiencing with the price of oil and equities, much more so than an actual "bad economy."

This is the time when smart investors start building up their positions in good companies. Of course you hear nothing about that in the media. Everyone is like sell, sell, sell.

6 - 12 months from now, when we're back in a bull market, and stocks are 25% more expensive than they are now, that's when all the newbies and amateurs will start buying and when all the smart investors will be selling.