oil

[mkarpoff]

Oil opened up big today as did oil shares. Then it cut gains, and oil stocks instead of simply paring some big gains really got hit. Any clue why? Was it the natgas effect?

[dan_s]

Hedge fund managers want to lock in gains at the end of the year because their fees are based on those gains. Weird trading days at the end of each year. Try not to read too much into the movement on any given day. Unless of course you are a Day Trader.