A good candidate for necklacing with $100/barrel petroleum
- Thread starter tellner
- Start date
CoryKS
Senior Master
He has grandkids who are excited by commodities trading?
Fun bunch.
Fun bunch.
I had to look up 'necklacing': http://en.wikipedia.org/wiki/Necklacing
Necklacing (sometimes metonymically called Necklace) refers to the practice of execution carried out by forcing a rubber tire, filled with gasoline, around a victim's chest and arms, and setting it on fire.
Is that what you meant?
Necklacing (sometimes metonymically called Necklace) refers to the practice of execution carried out by forcing a rubber tire, filled with gasoline, around a victim's chest and arms, and setting it on fire.
Is that what you meant?
JBrainard
Senior Master
As to the OP: Well that's just peachy.
As to Necklacing: I knew what it meant. :EG:
As to Necklacing: I knew what it meant. :EG:
CoryKS
Senior Master
I really, really don't see why anyone cares about this.
The guy flipped a 1-lot for a 6 tick loser. This is news? I'd say he's the one laughing, he's gotted 1MM worth of publicity for 600 bucks.
The real problem is no one understands how their economy works, what a trader does, or how any of this stuff is priced even though it could easily be explained in the school system by 8th grade or so.
Just a lot of jerking knees for what probably was meant as a joke between him and the others he stands near in the pit day-in and day-out.
Steel Tiger
Senior Master
Lets see? Why would anybody care about this? Because of this guys "cleverness" oil prices went above $100 a barrel for the first time. That's pretty cool isn't it?
As a result we are now looking at fuel prices going above $1.45(Aus) a litre and possibly as high as $1.60 (not as bad as the UK, but still bad). For those of you using gallons thats something like $5.60 (US) per. Because of this we will see grocery prices increase as transport costs are passed on to the consumer. An increased cost of living will have the Reserve Bank, like the Bank of England, thinking about increasing the interest rate, which means higher mortgage rates in a time when the lending market is already pretty nasty.
The simple fact is people do know how the economy works and that is why the actions of this pratt have bothered so many people. Its just another case of someone thinking they are oh so clever without considering the wider ramifications of their actions.
As a result we are now looking at fuel prices going above $1.45(Aus) a litre and possibly as high as $1.60 (not as bad as the UK, but still bad). For those of you using gallons thats something like $5.60 (US) per. Because of this we will see grocery prices increase as transport costs are passed on to the consumer. An increased cost of living will have the Reserve Bank, like the Bank of England, thinking about increasing the interest rate, which means higher mortgage rates in a time when the lending market is already pretty nasty.
The simple fact is people do know how the economy works and that is why the actions of this pratt have bothered so many people. Its just another case of someone thinking they are oh so clever without considering the wider ramifications of their actions.
Ugh, yeah...So other than a bunch of "oh..noes!"...
There was a 1-lot traded ~6 ticks above the market. Once. Did not go back. This will have 0 effects on any of those things you mentioned.
A ONE-LOT!!!!!! One time. This traders actions will/have had zero effect, save for the hysteria caused by people who have no idea what's going on.
Additionally:
This guy was a floor trader, a local, these people really have no pricing power as such - they merely balance supply and demand accross time as needed by real money.
(Although, I shouldn't say merely. It's a very difficult job.)
If you cast your eyes across the page in the article to where it says stomach bug you'll see why none of us actually care at the moment! if we don't have that bug we have the awful flu one that leaves you with a hacking cough for weeks.
The Daily Mail is a Tory paper and constantly runs stories like this to deiscredit the government. I don't know why, they do a good job all on their own!
The Daily Mail is a Tory paper and constantly runs stories like this to deiscredit the government. I don't know why, they do a good job all on their own!
