Originally posted by NY Madman:
Analysts should shut their traps publicly if their intention is to cause price manipulation for them and their clients. I'd guarantee this Morgan Stanley analysts big mouth helped the position of his firm and their clients.
Analysts have been predicting $200 oil for months. I agree spec trading is not helping cool the rally but they do not control the price. Wait until Exxon unwinds part of a hedge. Funds will join in taking profits. Oil will drop like a rock until the market (market = everyone trading it) thinks the price is low enough and start buying again. Shit, maybe OPEC will increase output. That would make trading interesting.
linky "One reason we may feel we are in a bubble is the forecasts coming from reputable investment banks such as Goldman Sachs, Lehman Brothers and CIBC and others, where they have boldly predicted $150 and $200 oil in the not too distant future. It is these kinds of predictions that make one remember the predictions at the height of the dot-com boom."
linky It's a fun business. Unless you deal with it on a daily basis, you can't totally grasp the whole concept. Lots of moving parts.
Open an account and see what happens to you. For most it's like sticking your hand in the radiator fan while the engine is running ....
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