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Oil bulls face severe test of faith (and pockets)

Reuters -- The collapse in oil prices since the start of May is posing a severe test for oil market bulls who must meet big margin calls to maintain their positions -- or close them out and accept their losses.
The price collapse has already prompted many hedge funds and commodity trading advisers to pull out of WTI.

TO CLING ON OR QUIT?

In April and especially May, plunging Brent and WTI prices are likely to have inflicted significant pain on many hedge funds. Month-end performance letters are likely to reveal some big casualties.

With Brent languishing, and bulging stockpiles around the NYMEX delivery point at Cushing, Oklahoma, WTI prices may struggle to rally much.

Many must now be more focused on minimising losses than maximising gains.

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Submitted May 15, 2012 By: Tomeboy

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hemiMI Veteran Author Michigan Posts:269 Points:422,865 Joined:May 2011	Message Posted: May 16, 2012 12:13:10 AM Ignore hemiMI Report Abuse Burn baby burn.
yakstar Champion Author Montreal Posts:2,555 Points:507,225 Joined:Jan 2012	Message Posted: May 16, 2012 12:12:52 AM Ignore yakstar Report Abuse just like schmitter- burned to a crisp!
BobD2009 Champion Author Long Island Posts:7,129 Points:1,267,485 Joined:Apr 2009	Message Posted: May 16, 2012 12:10:13 AM Ignore BobD2009 Report Abuse They'll have their comeback, I'll shed no tears for them.
GasholeMI Champion Author Lansing Posts:10,279 Points:1,745,990 Joined:Jul 2008	Message Posted: May 16, 2012 12:10:11 AM Ignore GasholeMI Report Abuse They deserve it. They are entitled to profits but they have been gouging the consumer.
joel27nc Champion Author Raleigh Posts:10,677 Points:1,886,070 Joined:Mar 2008	Message Posted: May 16, 2012 12:10:01 AM Ignore joel27nc Report Abuse Collapse? It should never been this high!
bobdec Champion Author Miami Posts:9,104 Points:1,797,520 Joined:May 2008	Message Posted: May 16, 2012 12:09:20 AM Ignore bobdec Report Abuse How they get burned big time
LostToo Champion Author Illinois Posts:4,392 Points:975,315 Joined:May 2009	Message Posted: May 16, 2012 12:08:48 AM Ignore LostToo Report Abuse My heart bleeds for them. I hope they all loose their shirts. Then have to go work for their cousin Habeeb at the Stop and Go. Let them listen to all the griping and bitching all day about how much gas cost.
viperND Champion Author South Bend Posts:3,457 Points:763,640 Joined:Apr 2011	Message Posted: May 16, 2012 12:07:03 AM Ignore viperND Report Abuse gas $2 yet?
unicornpmb Champion Author Buffalo Posts:8,631 Points:1,657,215 Joined:Sep 2005	Message Posted: May 16, 2012 12:06:27 AM Ignore unicornpmb Report Abuse That's life.
rawdog1313 Champion Author Lexington Posts:3,444 Points:1,670,605 Joined:May 2008	Message Posted: May 16, 2012 12:05:50 AM Ignore rawdog1313 Report Abuse Regulate Oil Speculation!!
TheeRedRam Champion Author Hartford Posts:3,303 Points:700,335 Joined:Jun 2011	Message Posted: May 16, 2012 12:04:50 AM Ignore TheeRedRam Report Abuse Hummmmm
rickone All-Star Author Detroit Posts:665 Points:419,000 Joined:May 2004	Message Posted: May 16, 2012 12:04:31 AM Ignore rickone Report Abuse Interesting - Thanks for posting.
mcmonsta Champion Author Honolulu Posts:3,347 Points:845,470 Joined:Sep 2009	Message Posted: May 16, 2012 12:02:07 AM Ignore mcmonsta Report Abuse if it brings oil to &70 a barrel...sell sell sell
jem069 Champion Author Detroit Posts:2,679 Points:714,780 Joined:Jan 2011	Message Posted: May 16, 2012 12:02:07 AM Ignore jem069 Report Abuse Ok
Nicoalbum Champion Author Ottawa Posts:6,169 Points:1,216,725 Joined:Jan 2010	Message Posted: May 16, 2012 12:01:47 AM Ignore Nicoalbum Report Abuse Entering a new recession,. thanks to Europe and Canada.
DozenSpeed Champion Author St. Louis Posts:1,293 Points:391,550 Joined:Sep 2011	Message Posted: May 16, 2012 12:00:32 AM Ignore DozenSpeed Report Abuse HA! Suck it
us4usa Champion Author Missouri Posts:6,120 Points:1,137,585 Joined:May 2008	Message Posted: May 16, 2012 12:00:32 AM Ignore us4usa Report Abuse High prices kill the middle and poor class...
WinderGuy Champion Author Georgia Posts:2,970 Points:956,985 Joined:Mar 2008	Message Posted: May 15, 2012 11:58:03 PM Ignore WinderGuy Report Abuse Ok
tidalwave3 Champion Author Tallahassee Posts:1,368 Points:1,489,680 Joined:Jun 2008	Message Posted: May 15, 2012 11:57:22 PM Ignore tidalwave3 Report Abuse As I've stated before, I believe they should be required to post monies at time of bid !!!!
radiorumor Champion Author Texas Posts:2,951 Points:781,540 Joined:Feb 2011	Message Posted: May 15, 2012 11:57:04 PM Ignore radiorumor Report Abuse I really hate that speculators could be losing money. Just as bad as they hated I was having to pay more at the pump
eblair54 Sophomore Author Missouri Posts:143 Points:451,550 Joined:Sep 2011	Message Posted: May 15, 2012 11:56:40 PM Ignore eblair54 Report Abuse Just goes to show you....sometimes pessimism doesn't pay off!
flghtmedic All-Star Author Pensacola Posts:517 Points:384,705 Joined:Apr 2006	Message Posted: May 15, 2012 11:56:15 PM Ignore flghtmedic Report Abuse Ok
aggietim Champion Author Fort Worth Posts:1,831 Points:717,200 Joined:Oct 2008	Message Posted: May 15, 2012 11:49:23 PM Ignore aggietim Report Abuse ok
sickhp Champion Author San Antonio Posts:1,489 Points:543,480 Joined:Sep 2011	Message Posted: May 15, 2012 11:46:34 PM Ignore sickhp Report Abuse Will prices fall through $90 this week.
Liberty2000 Champion Author Indianapolis Posts:1,756 Points:282,435 Joined:Jun 2007	Message Posted: May 15, 2012 11:45:58 PM Ignore Liberty2000 Report Abuse Are they going to need another bail out?
Ahking Champion Author Orange County Posts:3,599 Points:621,360 Joined:May 2011	Message Posted: May 15, 2012 11:45:53 PM Ignore Ahking Report Abuse investing? gambling/
g747 Champion Author Mobile Posts:4,682 Points:961,370 Joined:Jul 2009	Message Posted: May 15, 2012 11:44:27 PM Ignore g747 Report Abuse These guys make money up or down market!!!!!!!.
drobbbb Champion Author Maryland Posts:3,595 Points:837,985 Joined:Dec 2010	Message Posted: May 15, 2012 11:44:27 PM Ignore drobbbb Report Abuse hopefully speculators lost their hats and houses too
judgemobile Champion Author Ohio Posts:7,705 Points:2,472,635 Joined:Nov 2005	Message Posted: May 15, 2012 11:39:23 PM Ignore judgemobile Report Abuse OIL prices low, but GAS prices are high, because GREED and SPECULATION are the new supply and demand.
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: May 15, 2012 11:37:23 PM Ignore Aviator_Rob Report Abuse You would think Wall Street learned their lesson in 2008 but the only two emotions that resonate on The Street are fear and greed. The truly sad part is that the future for them is only as long as the next fiscal quarter and the past is all about denial. Bankers and traders live in hope that, "This time it'll be different."
bonzoonfmb Champion Author Florida Posts:1,817 Points:664,910 Joined:Feb 2010	Message Posted: May 15, 2012 11:36:24 PM Ignore bonzoonfmb Report Abuse Sorry speculators!
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: May 15, 2012 11:33:32 PM Ignore Aviator_Rob Report Abuse BanTheEPA said, "Hedge funds and speculators need to stay out of oil markets, and all energy markets for that matter. They are tring to rape and pillage the masses to benefit a few. The steep drop at the end of 2008 should have taught them a lesson. May the financial ruin they have caused be visited on them 10 fold!" As much as I disagree with your name, I gotta second your statement. Wall Street is like a ticket scalper trying to gouge customers at a sold out concert.
themaninthehat Champion Author New Orleans Posts:1,824 Points:472,265 Joined:Feb 2011	Message Posted: May 15, 2012 11:33:21 PM Ignore themaninthehat Report Abuse Too bad for speculators.
adgam Champion Author Orange County Posts:2,269 Points:510,295 Joined:Nov 2011	Message Posted: May 15, 2012 11:33:15 PM Ignore adgam Report Abuse Get the hell out and don't come back
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: May 15, 2012 11:31:43 PM Ignore mgune9 Report Abuse gee -- will the speculators have to take a loss??
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: May 15, 2012 11:31:16 PM Ignore mstearno Report Abuse bring on the bears
serrog Champion Author Nova Scotia Posts:5,710 Points:1,540,805 Joined:Oct 2008	Message Posted: May 15, 2012 11:30:36 PM Ignore serrog Report Abuse Nice
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: May 15, 2012 11:30:34 PM Ignore Aviator_Rob Report Abuse Wall Street banks have so much money that they basically run around looking for markets to speculate in. What did Michael Douglas say in the movie, Wall Street? "Money never sleeps."
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 Joined:Mar 2012	Message Posted: May 15, 2012 11:27:57 PM Ignore Aviator_Rob Report Abuse kusanagisamasaid, "Obama sure says he can't do anything, but when a Saudi prince speaks, the price falls quickly." Just so you know, we used to sit on top of an ocean of oil, too. But over the last century we squandered all of it without thinking of the future. Now we're forced to wring every last drop out of the ground. The difference between us and Saudi Arabia is that there aren't 300 million Saudi citizens that all want a driver's license.
Jeff1944 Champion Author South Dakota Posts:4,347 Points:1,101,260 Joined:Jan 2010	Message Posted: May 15, 2012 11:27:43 PM Ignore Jeff1944 Report Abuse Time for them to have some pain like we have endured.
pgerassi Champion Author Milwaukee Posts:11,036 Points:2,159,245 Joined:Apr 2007	Message Posted: May 15, 2012 11:27:32 PM Ignore pgerassi Report Abuse Hopefully that pain became fatal for most of them.
Tucker16 Champion Author Ottawa Posts:1,191 Points:564,950 Joined:Jul 2006	Message Posted: May 15, 2012 11:27:15 PM Ignore Tucker16 Report Abuse Glockers.
animal_rights Sophomore Author Hartford Posts:117 Points:46,150 Joined:Feb 2012	Message Posted: May 15, 2012 11:26:49 PM Ignore animal_rights Report Abuse money money money - money
slayur Champion Author Chicago Posts:1,534 Points:1,238,990 Joined:Sep 2005	Message Posted: May 15, 2012 11:24:43 PM Ignore slayur Report Abuse GREEEEEEEED
abcdMA Champion Author Worcester Posts:8,057 Points:1,601,705 Joined:Nov 2008	Message Posted: May 15, 2012 11:20:41 PM Ignore abcdMA Report Abuse a sign of a weak economy
IUVidiot Champion Author Indiana Posts:3,730 Points:737,135 Joined:Jun 2011	Message Posted: May 15, 2012 11:19:29 PM Ignore IUVidiot Report Abuse wow
REKEY Champion Author South Carolina Posts:8,723 Points:1,727,095 Joined:May 2008	Message Posted: May 15, 2012 11:18:22 PM Ignore REKEY Report Abuse Hope they lose their shirts.
iamforiu Champion Author Indiana Posts:3,715 Points:739,440 Joined:May 2011	Message Posted: May 15, 2012 11:16:28 PM Ignore iamforiu Report Abuse ok
BooHooMI Champion Author Michigan Posts:1,556 Points:344,610 Joined:Sep 2010	Message Posted: May 15, 2012 11:13:11 PM Ignore BooHooMI Report Abuse The bulls win in the end, they always do.
DustyHorse Champion Author Virginia Posts:6,224 Points:1,417,780 Joined:Oct 2008	Message Posted: May 15, 2012 11:13:01 PM Ignore DustyHorse Report Abuse I hope the speculators lose every penny they have and some they do not. I have been waiting for this day for a very long time.
Bezalel Champion Author Oklahoma City Posts:12,234 Points:2,318,260 Joined:Oct 2006	Message Posted: May 15, 2012 11:12:50 PM Ignore Bezalel Report Abuse The market is 'net zero' - they bought from someone, so if the funds lose, someone else gains.
zaq001 Champion Author Atlanta Posts:4,119 Points:1,500,755 Joined:Oct 2008	Message Posted: May 15, 2012 11:12:31 PM Ignore zaq001 Report Abuse Not good