Elections over, gas prices rising already
- Thread starter smeezy
- Start date
Oil traders went heavy on news of the Democratic victory. I bought a bit myself a few days ago, just because I knew they would rise on news of a Democrat victory. I bought some options on the account this morning and expect it to rise further. I'm probly selling at around 64 dollars a barrel, which will translate to another 15 cents or so a gallon.
Floor traders generally have a pretty ridiculous outlook on just about everything political - namely, that anything Democratic or Liberal will instantly mean increasing taxation, lower margins, and stifling regulation. The bad part about it is that when you know the expectations of the masses, often you have to play the same game in order to win.
Floor traders generally have a pretty ridiculous outlook on just about everything political - namely, that anything Democratic or Liberal will instantly mean increasing taxation, lower margins, and stifling regulation. The bad part about it is that when you know the expectations of the masses, often you have to play the same game in order to win.