There is now. you have to wait till 9AM before things appear
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There is now. you have to wait till 9AM before things appear
and there is an asterisked seller at 145, which means more than $100k worth on sale ...
but as $255k have been bought/sold already, don't suppose it is too scary.
Performing well today, up 5c. All the 'get the divvy and do the bolt' sellers will drop out today, hopefully POO and DOW behave overnight and we'll start to see NZO get re-rated towards where it should be. PRC also up 8c today so far
A timely completion of PRC drilling within the next two-three weeks will be where the fun starts imho.
Oil is solidly above 100. Seems there solid pressure to keep it there - but I cannot see why (I don't believe in Diggers China theory) - the world economy is going to hell in a hand-cart, commodities are off the boil and SE Asia has reduced fuel subsidies.
What gives? Any theories out there?
(Don't tell me it's heating oil)
- Agaricus Campestris
Sorry, I go with the theory that the number of cars on the Beijing roads has just doubled, and the Chinese refineries are no longer looking at a saturated distribution chain. If I was a conspiracy buff, I would suspect that President Cheyney and his mates would try and hold gasoline prices down until the election, but it ain't happening, so there must be some real market pressure.
Mr Market - meet Doctor Depletion
Yes - that could be a driver, still means buyers out there filling demand. It's that demand I just can't put my finger on. A small part of me wonders if the fine supply/demand balance is still out there - and the current economic slump is not masking a real fuel shortage. Or could be just market gyration - equities are all over the place - so why not oil.
(Actually, I havn't the first clue anymore about where oil is going).
Trouble is - with NZOs big war chest, it would be nice to have a respite from the price frenzy of late - a bit of calm water to quietly purchase (whatever) at reasonable prices.
I am with you on oil prices. Right now i wouldnt have a clue if it goes to $200 or colapses to $15.
Here is why. Problems with oil producing nations are not the most stable. Demand is likely to stay strong esecially in China and other emerging markets. Also if overall market sentiment finds itself, stabilizes and grows then so will overall commodities. So to if any wars breakout in Iran, Russia etc
Here is why oil and other commodites could crash. If sharemarkets dont recover from the credit crunch the the simple bu product will be a 1930 like crash. Almost all commodoties will suffer the same fate as demand for energy resources will deminish and an oversupply will occur.
That is how i see it and since noone knows the future the guess is anybodies at this stage.
discl. hold