Thursday, May 22, 2008

There is no doubt that there is a bubble

says Stephen Schork from the Schork Report. He has also an interesting explanation for a most recent peculiar phenomenon in the futures market:

Crude oil for delivery Dec 2016 has jumped 17% in the past four days. This has nothing to do with fundamentals, because fundamentals don't move that fast, its impossible. Someone in this market is getting squeezed. We are going to hear their name whether its this afternoon, a week from now or a month from now . Someone is going bankrupt by now because they are stuck in the back of the board and get squeezed out.

click for video

video: Schork Says 'Fear and Greed' Driving Oil Market
Stephen Schork, The Schork Report

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