Zoomie1980
Senior Member
- Jan 16, 2008
- 1,658
- 128
- 48
It doesn't really matter whether it is short covering or simply bets on ever increasing prices, the fact is the massive amount of speculation short or long has utterly warped the market. The price of oil nowhere near reflects it's real value anymore than the asinine prices of houses in California reflected their real value (and they still haven't fallen far enough to get close yet) or the price of tech stocks in the 1990's reflected theirs.
The plain simple fact is, speculation, no matter what form it takes has turned the oil market into an irrational fiasco. Yet another bubble waiting to implode and so soon after so many got burned by tech stocks then real estate.... These buffoons will never learn and they get what they have coming to them.
The plain simple fact is, speculation, no matter what form it takes has turned the oil market into an irrational fiasco. Yet another bubble waiting to implode and so soon after so many got burned by tech stocks then real estate.... These buffoons will never learn and they get what they have coming to them.