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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 378.35+2.7%4:00 PM EST

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To: Taikun who wrote (9136)9/10/2006 12:26:12 AM
From: Maurice Winn  Read Replies (1) of 217645
 
<I wonder how much speculators unwinding oil positions accelerates the moves to the downside as they did to the upside?>

Panic is much more effective than greed in getting a stampede going.

Having a herd of elephants trying to squeeze through a doorway is what happens when price falls cause financial panic.

Prices rise slowly, then fall fast.

At $80 a barrel, oil was way over the price of competitive products, such as small cars instead of SUVs, insulation instead of heating, or cooling, coal, ethanol and so on. Even photovoltaics must have had a greatly expanded market opportunity.

Mqurice
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