So if you traded 'oil" for a bank were you taking orders on behalf of clients or were you trading on behalf of the bank? in other word, purely a speculator. Again you state 'the banks are extremely bearish'. Exactly my point. The whore house that has become wall street wagging the real economy.
You claim I don't understand, yet you refuse to address a single question I ask.
How much of trades outstanding are real trades comparable to "bank trading"?
Why did oil plunge fro $150 to $50 post CFD? And don't argue the cents. How did we get from a massive under supply to a massive over supply over night? or was it caused purely because of banks forcing to close out their positions? As you said, you traded for banks, so you should know the answer.
Another poster has asked you, " why would you dig oil out now and store it to forward sell when all you have to do is forward sell future production". (Which as you would know is the original idea behind the futures markets.). You have not addressed this.
Is it a case of supply and demand in action or the fact that speculators need to cause instability to make money?
I look forward to you educating this ignorant poster if you can answer my questions above.
Pear
STO Price at posting:
$7.92 Sentiment: Hold Disclosure: Held
(20min delay)