Oil is dropping again today
 

Down a little over 3 bucks to 116 and change in the first hour of trading.
If diesel hits 4 bucks a gallon some day it's time to freakin party. http://www.bakabanashi.com/icons/eusa_dance.gif :roll: :roll: :roll:

Actually, that's what they want. Get it down to the mid-2's and then we can all party.

Re: Oil is dropping again today
 

I paid $4.01 at the TA in Matthews, MO earlier this week.

I just paid 4.49 today. I have a ways to go till party time. I'm afraid by the time I see 4 bucks the pool will closed and it'll have to be an inside party. :cry:

At least it's coming down though. It's the only way we'll start to recover the economy. Well that and the next housing bubble. :D

I agree. You know the oil giants have you by the balls when they are still squeezing and you're happy.

And don't forget this is an election year. Everything is going to start to look rosy come voting time. And the politicians will be hollering,,,,,,,,,

Look what I did!! Look what we did!!!! :roll:

What a bunch of bunk! :?

If you look back at oil prices when the politicians start yelling at investigating and putting more laws concerning their profits prices start to go down. The investigation talks stop and everyone is extactic because prices have dropped. They don't usually drop down to the level they once were, but it seem like a bargain from where prices topped.

Hitting $117 a barrel is a magic number. That is when institutional trades programed into computers start to sell off.

We're at 115 even, down 5.02 on the day. I'm going outside to start all my trucks and rejoicing. :lol: :lol:

BigD, could you elaborate a little on your statement above about institutional trades, I've never heard of that. By institutional do mean hedge funds and investment banks? If so I guess what you're saying is that they program a computer to start automatically selling at a certain price. I didn't know that's how it worked. I wonder how fast they program them to sell off? Why was 117 a magic number? I haven't read anything anywhere like that.

You answered your own question.... :wink:

I read about the 117 number a couple of days ago somewhere on bloomberg and a talking head on Fox Biz network said the same thing. It is also significant beacuse the oil bubble is bleeding.

Well son of a gun, I'm on fire today!
I go to Bloomberg a lot myself, I musta missed it though.

BTW, got my Willamette package today. 8)
now we'll see if it's RostyC proof. :)