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Commodity Correction Over? WTI Retraces 38.2 Of Drop From Highs, And 61.4 From Thursday Algo-Inspired Flash Crash
At this point it appears rather safe to say that the commodity correction is over, as SocGen predicted over the weekend. As of this minute, WTI has retraced the key 38.2 Fib level from its highs, and looks set to take out the $104.6 price which would mark half the correction from the top. And, just as notably, the retracement from the Thursday algo inspired collapse, is now 61.8%. So much for that. We wonder if this means the peasantry can put Eric Holder back in the carbonite, and is it time for the CME to shift its attention from silver to WTI margin hikes? The answer, according to cramer and central planning, is a resounding yes.
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Who says they can't do both?
lol
Shoefly market.
Yup, stay ahead of the curve people.
Turd was right about support at $34 for Ag.
Double bottom toward $35 next week then blastoff.
http://tfmetalsreport.blogspot.com/
F*ckingdammit I need more time. I'm evaluating junior miners and am also in the middle of buying some and I need more goddamned time. This shit was all on sale goddammit.
The miners will continue to be low. Don't worry.
If you want a no brainer, FIU.TO.
How does it feel to get slapped by the "free hand"? We took it on the chin last week with the ridiculous margin hikes. And we know what happens at close today. How do you like them (silver, rather than golden) apples, BEEE-OTCH?
Do I need to say it? OK, just in case.
Commodities, bitchez.
Over? Not if MathMan has anything to say about it!
Of course, he doesn't have a say, so yes, it's probably over. BTFD
Yup. Meth Man said 90 bucks, because that's what he sold it for to get, you guessed it, meth.
Mathman is taking this opportunity to keep his silver in the ground, because the nominal cost of extracting it from his back yard is $5 per ounce.
He's definitely willing to tear up his lawn and mine some more if it goes back to $48+, though.
He doesn't do Meth
I have it on good authority he steals spray paint from the hardware store and huffs it out of a paper bag. According to him gold spray paint is the best buzz.
I imagine his life is something like this: http://www.youtube.com/watch?v=QaQHKQbXal0
Good thing I BTFD...
and filled up my car.
Last week was the "fed hand" slapping silver bulls across the face.
They weren't considerate enough to give us the hand slap. That was a full on dick slap to the face.
Shapap!!
I do like à good slap in THE face once in à while. I like it kinky and rough!
And silver now go back to 42 in à few days, and nobody Will see because it's normal now and still down.
And silver now go back to 42 in à few days, and nobody Will see because it's normal now and still down.
We wonder if this means the peasantry can put Eric Holder back in the carbonite, and is it time for the CME to shift its attention from silver to WTI margin hikes? The answer, according to cramer and central planning, is a resounding yes.
//////// This question has nothing to do with geology and therefore is largely irrelevant. I It is the single most frightening and powerful reality of today: There is nothing anyone can do. Oil geology wins this war. Geology considers human history to be a blip on the graph -- and one that is insignificant.Here in Germany Jim Cramer is totally unknown.
No one has ever heard of him.
Ask anyone on the street who Jim Cramer is.
No response.
Hey yesterday our Ackermännchen proudly announced he has managed to hammer out a deal for John Paulson.
He's calling him "the superstar on Wallstreet".
I for one think that Ackermann is an attention-seeking whore, trying to curry favor with the Kronies from lower Manhattan.
He should be heckled at DB's annual shareholder meeting.
After all it was Paulson who was short ABACUS, ripping-off IKB and ABN Amro in the process.
he too will be at the Bilderberg meeting in st. moritz June 9 weekend
And no margin hikes on WTI or Brent, the PTB want higher oil prices!
double post
dp
frigging smart phones
uuups, I was wrong and feel rather confused for the moment.
http://www.zerohedge.com/article/and-here-they-go-round-two-cme-hikes-brent-crude-margins-25-first-many-such-moves
Looks like we nailed the head on this one, some insane profits if you played this right over the last week. Let the inflation mentality commence once again!
http://silverliberationarmy.blogspot.com/
How is this relevant to the oil subject of the post, though of course pimping your own site maybe doesn't care about manners.
i'm a big fan of silver but your spam is really getting old.
Yeah i hate to be part of the consensus, but oil to forty soon as i mentioned this morning, belgian waffle-monster.
Now the hedge funds will empty the COMEX of the 33MN oz of silver registered for delivery.
Winning.
(All spoke in tone of 'Run, Forest, Run!')
It's nice to see the resiliency on these commodities. Struggling, but moving up against the Government's will.
Geology will win in the end.
WHERE did this guy study technical analysis?
Since When does a 38.2% retracement of a given move signal the end of that move?
I suspect Tyler and co are talking their book, Desperate for investment strategies based around expectations of prompt inflation to pan out. Not going to happen.
Just because the market doesn't go where you want it to, does Not mean it's "manipulation".
Unlike the printing press, geology is finite.
welcome to the Fight Club
http://www.zerohedge.com/content/zero-hedge-conflictsfull-disclosure-policy
Nice numbers...of course down on huge volume!!!! huge UP on air....next stop 80ies...
Went short on Silver at 37 after being very long. Expected attack or volatility. Got my head handed to me on the trade (still up nicely on the day) because of slow grind upward in silver spot. Went back long at 37.67. I think the weak hands are out now and we grind towards/above 40. Then probably a pullback end of week/early next.
Seemed to be very disciplined accumulators in the market today.
Want to give everybody a heads up (though 50% already know this, most likely), the Brent-WTI price differential is a function of bottlenecks at the Cushing, Oklahoma pricing hub. That's the only real reason WTI is "cheaper".
Makes you wonder what other shennanigans an exchange can get away with. Hey, if you owned the clearing side and quote side of a large electronic matching engine - there's no conflict there, right? I mean, who would be tempted to scalp some pennies on either side to boost incomes?
Yes, you're right, silly question...