Trooper

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  • Oil Majors' Divergence from Crude at Record
    jjason, you obviously didn't read my post, so we're even, I guess.

    Except that I did actually read your links and they are nonsense.

    And no, I gave up speculation years ago. 99.9% of speculators lose money in the long run to the hedgers. But so what? If I was sure I could make money by buying oil futures, I would do it in a heartbeat, and so should anyone else. The fact is that speculation is a losing game and only people that know nothing about it believe that they move markets and can win in any consistent or predictable way.

    And those people, such as yourself, who have this fanciful belief, provide a ready market to charlatans such as Durbin.

    And what makes you think a speculator is not an "expert"?
    Jun 19 12:41 pm |Rating: 0 0 |Link to Comment |View article
  • Oil Majors' Divergence from Crude at Record
    jjason, you have a long line of forbears that is always ready to blame the speculator for anything that they don't like. He's a very convenient scapegoat, since being more or less non-existent, he can't defend himself. It was the short-sellers that caused the depression, etc.

    Much of the buying in the oil futures market lately has been shown to be hedgers buying back their short positions. I.e., oil companies who thought that oil was already at a peak back at $90 sold short to lock in or hedge their production.

    Hedging is the opposite of speculation: its purpose is to reduce risk not make a bet. If you ban or hobble the futures market, you will increase market risk and volatility, not reduce it.

    And how will Congress regulate the "world commodity exchanges"? I think the EU might just take a little exception to that.
    Jun 19 10:59 am |Rating: 0 0 |Link to Comment |View article

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