Oil down, grain down big, US Commodity indices down.

[Tandalayo_Scheisskopf]

Could the UBS thing have something to do with this? People getting a sense that the keg has run dry with their schemes?

Oil is steadily dropping about 3.00/day this week. A lot of resistance keeps meeting it, trying to hold support which is at 130. Someone really wants to keep those prices up, for the short term.

On edit: Now .48 off of major support. Resistance coming back in, but feebily.

[liberal N proud]

1. When Oil drops below $100/barrel then

we can say the price has dropped.

[LSK]

8. it really should be around 70

If we didn't invade Iraq, make that 50.

[Tandalayo_Scheisskopf]

10. Well...

I know what you are saying and I agree, but really, one cannot expect a market crash in oil. Yet, anyway.

[notadmblnd]

17. So it's just a distraction?

We're once again being played while something much more important is really going on?

[NightWatcher]

2. you forgot my personal fav: Dollar down

the reason we cannot buy anything is that our currency isnt worth the paper....

Everything goes back to the dollar. More dollars needed to buy a barrel of oil, a pound of grain, a house.....

[Zynx]

16. The rally in oil has far far outstripped the decline in the dollar.

[skooooo]

3. At least the stock market is up today..and was yesterday.

[DJ13]

4. I hope so, but I think this is a headfake

Big investors pulling out of commodities this week to ride the stock market in options expiration week (They expire at the close on Friday, so stocks were expected to go up), only to move back into commodities by the close on Friday or the opening on Monday.

[Tandalayo_Scheisskopf]

7. A 14.00 drop in a week...

Is some headfake. Something else, or a combination of somethings, is in play here.

Gold and Plat are both down too.

[DJ13]

13. Not anymore

Oil went up over $11 in one day, so dropping slightly more over several days isnt as great an accomplishment as it once would have been.

When speculators are involved, so is volatility.

[whistle]

5. Uhmmm, I wonder what cold be causing this?

:think: The top 2,100 Wall Street commodities speculators now known by name, location and computer ID #s :yoiks:

[Tandalayo_Scheisskopf]

6. Yup.

Lawyerin' up costs big money.

[kestrel91316]

9. That's all good and well, but I guarantee you we are NOT going to wee

equivalent declines in prices at the pump or in the grocery store. GUARANTEED.

[Tandalayo_Scheisskopf]

11. I know.

That said, I am looking at this as some relief over the mid and longer terms. We need some relief.

[mmonk]

12. What goes up, must come down.

Stock market basics.

[Tandalayo_Scheisskopf]

14. Yup.

Oil hovering at 130 support right now.

[ben_meyers]

15. Gas down 10 cents a gal overnight

at at least 4 stations here in Phoenix that I drive past each morning.
WEE!

Not near enough, but a start.

[whistle]

18. I've not seen that trend yet here in Orlando FL and I'm due to fill up this weekend

..I've been watching and waiting but by Saturday I'll be running on fumes

[Tandalayo_Scheisskopf]

19. Alright! Busted support!

129.75!

[bbgrunt]

20. maybe w's new willingness to talk with Iran has

something to do with lowering tensions and the expectation of nuclear world war.

[Tandalayo_Scheisskopf]

21. Yes.

There was likely a lot of speculation on imminent war. Like they would have somewhere to spend it if there was war.

[spinbaby]

22. I've been noticing

Every time oil starts to go down, a pipeline blows up in Nigeria. Just a coincidence, I'm sure.:eyes:

[DailyGrind51]

23. Let's hope oil prices per barrel continues to decline.