Six Year Oil Rally is Finally Over

Oil tumbles again; prices fall over $10 in 2 days

By ADAM SCHRECK – 3 hours ago

ap.google.com...
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Biggest oil price drop in 17 years

17 Jul 2008, 0039 hrs IST, Sanjay Dutta,TNN

timesofindia.indiatimes.com...
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Oil prices keep Dropping

By Ken Sury | Wednesday, July 16, 2008, 09:52 AM

www.wacotrib.com...
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Slowdown Fears Push Oil Prices Down

By JAD MOUAWAD
Published: July 17, 2008

www.nytimes.com...



image source: http://www.nicholsoncartoons.com.au/cartoons/new/2005-01-29%20Elliott%20bankrupt%20450.JPG

Thats good news!! The DOW went up 276 points today as well. Things arent as bad as everyone on ATS wants them to be.

The Dow went up with Digital Figures....not in Real Term Gains

The Dow operates just like the Casino Machine, The Machine always wins to the Suckers, if False Digital Figures works for you, fine.

image source: http://www.plug-in.to/crooks.gif




image source: http://www.cartoonstock.com/lowres/hsc1956l.jpg

The long term trend is still intact, and so is the 6 year trend. However the recent spike's trend is broken, and hopefully all the other trend lines get broken too...it's really funny how people can say it's all supply and demand when people have been trading commodities based on charts for ages...anyhow for my wallet's sake, let's hope oil can at least drop to $100 a barrel...but that won't happen unless we can cool the Iranian war rhetoric coming from Washington and Israel...and even Iran, even if they don't admit it, they love to spook the oil markets.

I do not think it will drop much more myself. I think the best we can hope for is it to sustain itself.

I also think they wanted to see how far they could push the envelope before the prices really started causing major havoc.

And the DOW goes down with Digital Figures as well but those are the only ones that count right?- because it means BAD NEWS-SPREAD THE FEAR!!!!!




[edit on 16-7-2008 by princeofpeace]

What's with the CONSTANT ATS bashing from you??
This is the fourth or fifth time now.. If you're bored here don't you have something else you could be doing?
Or try starting an interesting thread.

Nobody WANTS things to be bad.Just burying your head isn't going to solve anything though.
God knows I'd love fuel prices to drop like everyone else who relies on it for work..Or do I 'WANT' to pay £6 a gallon?

This is normal, oil spiked and now it's coming back down to reality.
Oil will probably see $110 again before it goes right back up to.... *drumroll* 200/barrel by end of year or into next year.
As for the dow, 10,500 is a strong support and this 200+ point day is just a suckers rally. Once oil starts recovering dow will start to plummet along with it.

What has changed in the economy that you guys think all is better now? Because the dow jumped 200 points? this is normal, it goes up, goes down, up and down, but in this case it's been going down too much and this jump has been expected.

Cheers

Zebra

Don't forget that oil was at $70 last July. We're still nearly double what the price was one year ago. I'm hopeful, but I think it's a bit premature to say it's over.

Just dont understand why everyone on this site is so negative thats all. I mean it IS a conspiracy site i understand, but why the negative topics? Most of the topics on here are bad news and no one is even making them relevant to any sort of "conspioracy" its just all doom and gloom and if someone posts something positive then its shot down as propaganda.

There's a Simple explanation to this.....Stockbrokers are like pimps who represent their Brothel Masters, and when their Gang-Bang Business goes up...they Celebrate, even though.....it is not in conformity with the wishes of the People, meaning that (Exploitation of the People).....so when this Gang-Bang is Broken or Exposed, it is the Peoples turn to Celebrate.

You just cannot carry on Fooling People all the time

Prices only fell because stockpiles increased and speculators sold off when the data came in. Production hasnt been increased nothing has changed. If we dont keep our conservation habits, the prices will rally again in a few months time.

What? Without speculators to set a market price there would be chaos and no way of gauging simple supply and demand economics. A farmer doesnt decide what to sell his cow for. the speculators do based on supply and demand, if every farmer set the price of his cows to what he determined there would be absolute insanity. It would be Capitalism on an extreme, unmanagable scale that couldnt supply anything but the highest bidders.

[edit on 17-7-2008 by soup_sandwich]

Peak Oil Prices have tumbled down, not because of extra stockpiles, but because people around the globe have decided to adapt their lives, by boycotting Oil Mans Greed

Is not that ATS is full with negative people but rather people that has done their job following the trend in the markets and can pretty much see the deception.

We are all been played like fools, people still doesn't get it, is all about politics and the coming elections.

Hmmmm prices go up...off-shore drilling is approved as a result...prices drop again...

Oh hell, no...we're not being played.

Oil price will drop. Recession will see to that reduction in usage. China will take up the slack. Oil prices will rise. Growth will happen and extra oil is needed. The tug of war begins. Oil prices will shift again. Upwards. Inelastic demand baby.

The Neocons had plotted this thing for a long time now from within government, on behalf of their long awaited dream that Israel will be the centre of gravity and America will be their Security Guard (Bullyboy) Now, Israel is free to supply China with enough oil at premium prices, because oil prices are now being dictated from Israel to their Wall St boys in New York.


image source: http://www.reachingtruth.com/images/israeli_pipelines_lg.jpg

reply to post by Dubyakadubla

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Lovely anti Zionist theory. Except Israel will never be the centre of the universe. It's a problematic back water.