Gear Head

iTrader: (2)

Anyone else been watching the dramatic falls this week?
Looks like we are about to start round two!

http://www.bbc.co.uk/news/business-13301784

Man, if it drops to $35 a barrell like it did in 2008, I could of bought a scooby!

£2 a litre by the end of the year? My ****!

tony de wonderful

Pslewis must be worrying.

stilover

Bet Petrol prices don't fall accordingly.

They'll be looking through their excuses handbook as we speak.

Excuse 1) Week pound, Petrol prices rise
Excuse 2) Strong Pound, Petrol prices rise

EddScott

I wonder if the fall will translate to the pumps. It's almost a shock walking past Tesco every morning and NOT seeing another penny on the price.

alloy

I warned you about these commodity linked plays being over crowded.....this is the outcome.......

Dirk Diggler 75

Spot on......

alcazar

iTrader: (2)

No, no, you're wrong, the Lying Labour government told us so...............oh......wait.

tony de wonderful

They sell cheap creme eggs though.

alloy

You can't hate the petrol stations they are a business, the way they operate in the UK is just like their behaviour all over the world.

You can however hate on the fuel duty and tax structures these companies have to adhere to...

Gear Head

iTrader: (2)

I predict a super market price war anytime soon.
I don't think the public will stand for prices being kept as they are for another 3 months.
I mean, Oil has had a 30% drop in cost in ONE WEEK! I realise that only around 30-40% of the £1.35 that we pay now is actually oil, but that is still a good 12-15p drop per litre.

No excuses now.

The Zohan

+1

hodgy0_2

presumably the boys from Glencore saw the top of the market too

Gear Head

iTrader: (2)

Looks like it is now rebounding today.

alloy

I think all the majority of "professional" players saw it coming, leaving the retail high and dry

stevebt

iTrader: (8)

I just noticed today on the BBC website that Brent Crude has dropped to $100 a barrel, but fuel is still fecking high. I thought this govenment promised a system based on how the price of oil rises and falls.

I can't really see them dropping the price though as they are laughing all the way to the bank!

tony de wonderful

I see Gold is being dumped too.

alloy

You lot want to check silver out!

zip106

Why the sell off, Alloy?
Enlighten us.

No doubt the fuel price stabiliser will be brought in swiftly to protect the government coffers!

tony de wonderful

Where's the money running to?

stef_2010

iTrader: (3)

It dropped loads in the past day or so then shot right back up this morning, its on its way down again now

Bit late for that, maybe a year ago

GlesgaKiss

Down from near 50 to near 30 in a week, unreal. Been watching and so far disappointed with the drop in gold. Looking to buy krugerrands to add a little bit of physical to my savings. What do you reckon, precious metals 10% of portfolio, or less?

alloy

This week we have had weak manufacturing and industrial orders data, concerns over the sustainability and health of the US economy, "QE2" ends next month with no scheduled round 3 this will sap liquidity out of the market and is a catalyst for the risk-off trade so naturally commodities are going to get hit.

Silver is due to CME hiking the margin to trade the metal which again is forcing sellers and leading to the capitulation. There are a lot of conspiracy theories doing the rounds about Gov intervening to burst the bubble, consortium cornering the market etc etc.

At the end of the day nothing goes up/down in a straight line, corrections are healthy to overall sustainability of moves and to be honest some of these inflated prices were imminent to pop so you had to either be devoid of inspiration to remain in that trade or just damn right greedy....

Tidgy

were ya got that from? down nearly 2% according to the bbc market data

ignore me, thats monthly results.

stef_2010

iTrader: (3)

I've no idea why people would keep money tied up in gold atm.

I buy and sell scrap gold as my main occupation, its been floating around at the high price for a while so the only way is down really, even if it does go up its not much atall

I'm guessing you and alloy buy gold shares ?

Would one of you be so kind and explain to me how it works ? if I wanted to buy bullion gold in physical form theres always a premium ontop of the price ?

alloy

I was a holder of commodities right up until i cut everything to book profits before easter, now even i must confess this was more luck than judgement on my timing, but i posted on one of the other threads about this commodity trade being overcrowded and overdone so the theory was right. I've been a bull on equity since the bottom, in fact i called the bottom 3 weeks premature and sweated it out before reaping the rewards. I don't know how the markets will react to the end of QE2, historically liquidity in the markets dries up over summer months and as such with these unknowns i'm reverting back to what i do best and keeping things nimble and just flow and ebb with the markets. I have several top down macro themes i'm scaling into but otherwise my exposure will be exceptionally short term and with prudent stops and hedged accordingly. Second guessing the criminality of central governments and the way they use policy to manipulate price fries my head, which is another reason i am just sticking to what i know best as it enables me to react to these circumstance as and when they may happen.

Good luck

GlesgaKiss

Stef - I will reply or pm you later. Just at work having lunch and I'm typing this on my phone.

alloy

You buy and sell gold as your occupation, you don't see any further upside in gold as you have stated. What is your explanation as to why the price has gone from circa 1200 to a high of 1580 over the past 12 months??

stef_2010

iTrader: (3)

thanks

stef_2010

iTrader: (3)

I'll be honest and say I'm no expert but it was my understanding that its high because people are using gold as a safe haven while the economy is all over the place, also the price is set in the US, which means its in dollars, (obviously) and with their economy also not doing well any drop in the dollar makes it cheaper to buy with other currencies

I'm suprised that it has went so high recently, especially after the jump we had after the elections, me saying I dont see anymore upside is a total guess in all honesty, although I wouldnt complain

Feel free to educate mme if this is all nonsense to you

Trout

iTrader: (1)

Prices typically fall at four times the rate of their rise, on average.

So bears just make money faster.