As vicious as it's already been, the oil-price collapse probably ain't over just yet.
These boom-bust cycles—whether in tech, housing, or commodities—are so powerful they tend to overwhelm most traditional market mechanisms and follow a path of their own. Sometimes those cycles end with drama, bankruptcies and arrests.
The good news for investors is that these cycles do tend to follow a general pattern. The trouble, particularly for those desperate to find a bottom in oil or other hard-hit commodities, is that this particular cycle hasn't yet seemed to reach its nadir.