Just as I suspected, because some dorky analyst last week said oil "could reach 150 a barrel by July 4th the weekend when MILLIONS of Americans WILL take to the road" not only did it go up the next morning (thanx speculators) today it just went over 140 a barrel. I have determined that if someone be it an analyst or speculator says that prices "could go higher" then they will go higher-all it takes is to just say it and it will happen.
Here is an idea- say "I BELIEVE OIL WILL BE BELOW 90.00 a barrel by August because Americans are being pinched and they are driving a lot less than the last 20 years"-I wonder what SPECULATORS would do then......
side note:
USAToday reported that "retail sales increased by 1% in May giving hope to the market and ANALYSTS are saying that "this shows that the Presidents Stimulus package is WORKING."
Orly??? ONE PERCENT is showing the stimulus package is working?
Get back to me in July when we are being gouged at the pump for 6.00 a gallon and no one is buying anything except for food cause WE CANT AFFORD anything else.
I just wonder at what point do SPECULATORS/Analysts go "hey, man we cant keep raising prices like this or we could RUIN OUR OWN ECONOMY"
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