Brent Tumbles

Tyler Durden's picture

Not like Goldman did not telegraph their intention to crush crude yesterday. Alas, the market which now has a 24 hour real time delay function, only managed to digest the news today. The result: a plunge in Euro Brent from an intraday high of over $126 to about $122. And courtesy of everything being correlated once again to the inflation trade, asset prices everywhere are plunging.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
brian0918's picture

Gold just nose-dived to $1447.

Highrev's picture

Riddle me this, riddle me that, how is it that everything's a correlated crush, including the USD?

hedgeless_horseman's picture

Because we have a centrally-planned command economy where losses of a few favorites are socialized while gains are privatized?

slewie the pi-rat's picture

+ lemonade, EK!  brent tumbles?  trouble in paradise, err, ...china?  Sell The Fukin Peak!

lol!  take an OPEC sheik to lunch!  fuk em all!

66Sexy's picture

+1 you have it exact... since 2008.

 

Ray1968's picture

Who knows? I just hope the S&P500 continues a serious crushing between now and Friday.

NYPoke's picture

Loss of confidence.  No matter how much money you print.  If the markets lose confidence, they sell.

Lord Koos's picture

The market now seems to be "nowhere to run, nowhere to hide" for most people. If every thing is one big fucking index, then what's the point?

 

SilverRhino's picture

Silver is down to 40.15 as well.  

ZapBranigan's picture

Blythe is working it right on schedule...9:00am Ag nosedive!  If she is able to keep-up her stamina, BTFD at $39.25.

Long-John-Silver's picture

I knew buying that armored truck was a good idea.

ZeroPower's picture

WTI is down more.

Turd Ferguson's picture

And don't forget...the May crude options expire on Thursday. Fucking GS is probably short a bunch of calls and they're trying to cover their ass.

ZeroPower's picture

Absolutely, we've seen this last month as well near equity OpEx and i remember you posting about it too. Games this week, that is all. Buying some long May Cs on friday might be swell..

RobotTrader's picture

Like I said, virtually anything can be engineered by TPTB with infinite shorting of paper contracts.

Yeah, they cannot "print" oil or gold, but they can "print" infinite quantities of short tickets on the NYMEX and COMEX.

You cannot "print" higher demand.

bob_dabolina's picture

And what happens when you cover shorts printed to infinity?

Chump's picture

Uh, you don't cover, and the deflationary black hole swallows the world.  That's sort of the point.

Infinite QE's picture

You cannot print intelligence which firmly explains your problem!

d00daa's picture

Everything is collapsing.  Everything except the XRT that is.

The minute by minute manipulation is breathtaking to watch.  Someone really, really wants 52 to hold.

SheepDog-One's picture

I see, Robo...you can just short your way to eternal gains to infinity. Sure.

Cdad's picture

Goldman Sachs...betraying clients and destroying market confidence worldwide.

dogismyth's picture

GS needs to be destroyed.  Any takers?

SheepDog-One's picture

I been calling for that for the last 3 years.

Cdad's picture

Instead of being destroyed, the Treasury and the Bernank saved it.  Anyway, I actually think JP Morgue is actually worse.

 

RobotTrader's picture

Bonds are also on fire today.

No need for QE3 when panicked investors are selling commodities in droves and piling into the safety of U.S. Fiatsco paper.

Johnny Lawrence's picture

Notice that on nearly all significant down days in the equity market, bonds rally. When the market finally crashes, bonds are going to do very well. 

 

Johnny Lawrence's picture

Junk me again.  There's nothing contrarian about being anti-bonds right now.  You'll be happy to know that UBS, Merrill, Morgan Stanley, etc all agree with you.

topcallingtroll's picture

I agree with you Johnny.  One has to keep an open mind and watch what happens without a bias if that is possible.  Some people are rooting for a crash so it is hard for them to see evidence of a change in trend

SRV - ES339's picture

Set up for $70B in bond sales starting today... nothing, absolutely nothing, is free of Ben's fix... and it actually seems to be spreading (as the unintended consequences are addressed with ever more reckless abandon)... tick... tick... tick.

FoieGras's picture

Looks like the inflation bulls marked another short term top with their incessant screaming Sunday night at the Asian open.

topcallingtroll's picture

almost like clockwork isn't it?

ak_khanna's picture

The market operators ie banksters are driving the USD index down and pumping up everything else. This process will continue till there are no long positions left in the USD index and no short positions in any of the commoditie­s, stock or currencies other than the USD.

The operators are then likely to take the long position on the dollar and short position on everything else. They would then use their money power to move the markets in the direction which would get them the maximum profit while screwing all other traders / hedge funds / investors.

The stock, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves­. They effectivel­y use the media to lure the other players in the market to a position where they would incur maximum loss.

The markets will fall only when the banksters have eliminated all the short positions and only they themselves have positioned themselves to profit when the market falls

OR

When an unexpected world event catches the banksters with their pants down and the softwares they use to rig the markets go berserk beyond their control.
http://www­.marketora­cle.co.uk/­Article245­81.html

SheepDog-One's picture

'Driving down dollar and pumping up everything else'...like what?

 

 

Freebird's picture

Well you could take a look at the Swiss Franc.

SheepDog-One's picture

OH the Swiss Franc...damn missed my opportunity to buy Francs last nite DAMMIT!

Freebird's picture

Early bird gets the worm.

Bam_Man's picture

"Morgenstund hat Gold im Mund."

ZapBranigan's picture

@ak: If you really want to pump your website, post something original instead of cutting and pasting the same post day after day.  It's truly annoying. (and yes, I junked you for lack of originality, robo-poster)

SheepDog-One's picture

Already they ran into lower demand with gasoline only at $3.80 nation wide. For all those calling for $8 gas and $15 pound beef, simply cant happen. At some point here the fact that everyone is broke has to factor into the Maniacal Monetizers fantasy.

CrashisOptimistic's picture

You, sir, are absolutely right, and it doesn't matter.

Price is not informative about the death that oil depletion is bringing.  The trucks can stop bringing food to grocery store shelves just as suddenly at $2/gallon as at $8/gallon.

This is not about trading.  It's not even about money.

It's about death.  That's what oil depletion means.  Death.  5+ billion of them.

Chump's picture

Exactly.  I could use a wheelbarrow full of cash, personally, but there aren't any.  Booming commodities just means the fall back down is going to be that much more epic.  Ben wishes he could sustain this "inflation."

RobotTrader's picture

Gold's breakout now completely erased.

Hats off to TPTB.

Once again, they achieved the "impossible".