We are almost all to blame for the price of oil. For years, it has been said that we need to develop more efficient vehicles, yet North America, whom I am guessing own somewhere around 35% of the worldwide vehicle inventory, has been developing the Hummer and other pigs. I admit, I own a Chev Blazer, although at $1.38 a litre here in BC, it is getting a lot of dust in the driveway.

Instead of blaming day traders completely, we should have a look at what we have done to develop the opportunity for them to speculate. Yes, China and India are increasing their fleet of vehicles as well, but at least they have set realistic fuel efficiency requirements - China has a 5.6L/100km standard (about the same as the Toyota Prius) in place for 2012, and 4.8L/100km for 2016. Being a command market, it will happen. And by not implementing their own standards, the Americans are selling out to the oil producings countries of the world.

Oldster said that daytraders add liquidity to the market, which is true. Do they effect the prices? Anyone who sells or buys substantially will affect the price. Some members on the Probe forum talk about Pinetree for mass sell offs, which has lowered the SP from heights of $0.82. On KWG, Diagnos has sold somewhere in the vicinity of 6 million shares, and its SP is around 6 cents now, down from 10.

Daytraders may be the ones who trade in volumes, but they are not the major holders in the stocks they trade. They merely toss around 3% or so of shares that the companies hold.