Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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To: etchmeister who wrote (24914)	3/11/2011 11:01:59 AM
From: etchmeister	of 25522

The speculative fervor is so remarkable that the big trading firms now have nearly twice as many long contracts open as they did in 2008, The "wild card" - virtual demand... Schork notes that speculators now own nearly six times as many barrels of oil – 268,622 futures contracts representing nearly 269 million barrels – as can be stored at the WTI trading hub in Cushing, Okla. And since the CFTC numbers released Friday only go through last Tuesday, they likely underestimate the degree of speculative fervor building in the energy markets. Olivier Jakob, who covers energy markets for Petromatrix in Zug, Switzerland, estimates that traders added 40,000 to 50,000 crude contracts to their long positions in the second half of last week. That would take them up to seven times the Cushing capacity, a level he calls "extraordinary." finance.fortune.cnn.com By now pretty much everybody (with exception of the Republican Party) has figured out that this has absolutely nothing to do with supply and demand - sorry you guys you are in LaLa land. We all could drive 100 mpg cars and they would still jack up the price. thenation.com

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