Now folks, either you're closin' your eyes to a situation you do not wish to acknowledge. Or you are not aware of the caliber of disaster indicated by the presence of excessive speculation in your community. Weeell, ya got trouble, my friends. Right here, I say, trouble right here in oil trading. With a capital E, and that goes with T and rhymes with F , and that stands for funds!

Ya got trouble, my friend, I say trouble right here in oil trading.

Why sure I'm an oil trader, certainly mighty proud I say I'm always mighty proud to say it.

I considerthe hours I spend with a chart in my hand are golden. Help you cultivate horse sense

and a cool head and a keen eye. Never try to buy high and sell low and leave to yourself some margin, to give yourself a profit shot!

But just as I say, it takes judgment, brains, and maturity to score in the oil game, I say that any boob can take and shove an ETF share in their pocket. And they call that sloth, the first big step on the road to higher prices. I say, first, we have is trading liquidity then excessive speculation! An' the next thing ya know your son is playin' for money in a three-piece suit. And list'nin to some big out-a-town Jasper hearin' him tell about computerized trading. Not a wholesome open outcry, no! But a trade that is done on a laptop!Like to see some stuck-up Wall Street boy riding oil to hedge a portfolio, make your blood boil! Well, I should say.

Friends, lemme tell you what I mean. Ya got one, two, three, four, five, days for trading.

Days that mark the diff'rence between a gentlemen and a bum, with a capital ET And that rhymes with F and that stands for Funds! And all week long your oil will be running away yes I say running , running away with heating oil and gas prices too. Never mind the stock market just watch the oil supply draw, forget the dollar getting pounded. Never mind pumping' any oil. Raise the price till the cars have to run on empty on a Saturday night and that's trouble, Oh, yes we got lots of speculative trouble. That starts with E and goes with T and that goes with F!

I'm thinking' of the buyers of funds. Shirt-tail buyers only going one way! Folks I tell you it's the road to manipulation! Forget that someone has to sell to them, oh we've got trouble! Right now in oil trading and that starts with E and goes with T and ends in F. Oh surly we got trouble, right here in oil trading! We got to keep the prices for ever going higher! Oh yes we've got trouble, oh yes! We got lots and lots trouble because speculation is the devil's playground! Lots and lots of trouble

Well may I have your attention please, your attention please; I can deal with the problem with a wave of this pen this very pen. I can assure cheap prices forever if I can break this speculative fervor which start with E and that goes with T and that ends with F! Oh think my friends how can any market compete with the CFTC? Remember folks remember the fabled walls of Jericho those oil prices came a tumbling own. Oh position limits will do my friend; just simple position limits do ya hear me? I mean we need those limits and I mean we need them today! With the Obama administration now in town we will start to bring oil prices down, as sure as God made little green apples, and all the trades will be uniformed. Only sellers are good, no buyers! And your kin will have the great thrill I once enjoyed when oil, gas and diesel were sold in the dark markets!!! Oh yes, do we have trouble!

Talk about trouble with falling big oil profits. The bulls came storming back in oil as stocks focused on good news. With oil being oversold resistance was weak and prices just kept moving higher. Still petroleum had to price in the longer term ominous effect of weak profits in the oil patch. The lack of profits means less spending on projects that will give us more oil in the future. The Houston Chronicle report that ''Royal Dutch Shell and Exxon Mobil turned a tough earnings season downright ugly on Thursday with reports of steep profit drops, but the two companies reacted to their news in different fashion. Shell said it would slash spending by 10 percent in the next year after reporting a 67 percent drop in profits, to $3.8 billion, and a poor outlook for economic recovery. Exxon Mobil officials emphasized that ongoing investments in some 120 new projects will help it weather the down cycle, with no major job cuts planned, as it reported a 66 percent fall in profits to $3.9 billion including one-time items. Still the lack of investment at other companies will be a problem that will start to be an issue down the road.

Saudi crude exports to the US as reported by Reuters fell 37 percent in May from a year earlier to the lowest level in two decades using Energy Department data as the effects of OPEC production cuts and lower American oil demand due to a weak economy kicked in. Saudi Arabia exported just under 1 million barrels per day of oil to the U.S. market in May, the smallest volume for the month in 21 years, according to the department's Energy Information Administration. Reuters quoted me as saying, The Saudis have cut production hard and have successfully increased prices, yet refiners are not as enamored with the lower yielding heavy crude. Refiners have no use for the heavy crude. Total U.S. crude oil imports in May declined by 475,000 bpd.

Low Prices and weak demand are encouraging more and longer maintenance projects and that will have an impact on supply. Bloomberg News reported that production of crude oil from Alaska this month is down 15 percent from a year earlier as maintenance work temporarily shut the Alaska pipeline.

Gasoline also got a boost on a Reuters story that Sunoco Inc. is planning to shut down the Girard Point section of its 335,000-barrel-per-day refinery for three weeks in August.

Sell September crude at 6650 - stop 7170.

Sold September RBOB fromcapprx 19000 stopped apprx 19350.

Sold September heating oil fromapprx 18500at apprx18600.

We're short September natural gas from apprx 390 -stop to 400.

The Dan Flynn Corn & Ethanol Report

Can or Will Corn sustain the current rally ?

The December Corn was 1 3/4 cents higher in the overnight settling at 344 1/2.

The trading range was 345 to 340 1/2.

Is this a profit taking spike to create another selling opportunity

We must remember we our looking for Corn yields.

Despite how government intervention sways evil speculators out of the market !

Supply & Demand.

On the Energy Front we remain bearish with the demand and supplies telling us we should trade lower.

With all the economic numbers and actual facts.

One must ask oneself,

How can we be above $66 dollars a barrel.

Politicians need to know that this is no stimulus package.

And they are hampering further growth if any !

How manyReports do we need to tell us of a Sagging Economy !

Let's not sugarcoat the facts.

As Americans we as always we roll up our sleeves and try to make sense of the nonsense.