Energy Futures Market Halted, Unhalted, Daily Limits Doubled

Tyler Durden's picture

Update 2: NYMEX GASOLINE, HEATING OIL LIMITS NOW 50 CENTS, CRUDE $20. Basically the CME just doubled daily limits. Of course, the CME is happy to double the drops... but never the surges.


Uh, what?


So now crashes cause the entire market to be halted? Swell

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AR15AU's picture

CME is trying to panic longs into liquidating, implying they may not be able to use the exit doors and then lighting a small fire. Well played CME.

hedgeless_horseman's picture

I had not noticed all of the beautiful drapery on the theatre walls and the antique revolving door out front that looks like it could use some repair. Wow, it looks like a sell out crowd!  We were lucky to get tickets.

JW n FL's picture

They are creating tops for the tech crowd to be lulled into charting going forward.. back test the market lower with the synthetic tops in place is an easy way to get the sheep to price control the product for you.


Or, algo's who can not grasp the concept of artifical tops.

JW n FL's picture

Synthetic Tops in Commodities Provided by the CFTC to the detriment of Americans and Betterment of “People’s Republic of China”!


Every time the CFTC releases its Margin Hike Press Release after hours here in the United States.. China gets to front run the Fucking Dip!


It is not bad enough that the idiots who back test blindly will cause artificial drag on the market with the Synthetic Peaks that have been provided to them, the algo’s can NOT even grasp the concept and for the most part the people who are programming are going to favor the numerically correct solution based on the larger law of averages..


But an American Commission, that is supposed to protect Americans.. is empowering China to once again have the upper hand?


What the FUCK?


Our Government has given China enough freebies for the week! And last week and pretty much going forward for-fucking-ever!


I hate stupid people! I hate the stupid Government that allows 50,000 jobs to go to China a MONTH! Now China gets to front run the downward pressure in Metals which benefits CHINA! Which is a foreign Power! More than the Americans it is supposed to help in the long run!!




Senate Republicans blocked a Democratic Bill to End tax Breaks for Moving U.S. Jobs Offshore! 50,000 Manufacturing Jobs a Month since 2001 have LEFT! The United States for China!


How much more are we going to have to give China? When is enough stupidity enough? This Country is FUCKED! And no one gives a shit! Everyone wants to pray for the rapture or live the lie of the Treasury! And where in the FUCK are the people charged with securing the national Security of the Country? Those mother fuckers are the First ones that should be hung for treason.. going back 30 – 40 years!

augie's picture

How much more are we going to have to give China? When is enough stupidity enough? This Country is FUCKED!


well, we are about to give china some of our stealth technology so i'd say, it never ends?

Shock and Aweful's picture

I don't think it is stupid or by accident that we are giving away everything and weakening our position...

I honestly do think it is by design.


The U.S. is the last major obstacle in the way of a one-world gov't.


Once it's citizens are effectively beaten down and broken....they will be BEGGING for the "economic stability that a one-world gov't and currency can offer  (This was the same arguement was made in 1913 for the implementation of the Federal Reserve Bank)


I know it sounds kooky....but I seriously think that is most likely where all this is heading - maybe 10 years?  20?  Sooner?

gorillaonyourback's picture

no i dont think so, look at the middle east, north africa, now greece going off, ireland and portugal ready to pop.  when we pop it will be bloody fucking ugly.  we wont be toting bottles of gasoline we will be toting AR15s, AK47s,etc  the percieved ultra rich in our country? well lets say they have now become a bullseye and they know it

hambone's picture

Equity lifeguard just blew the whistle...EVERYBODY OUTA THE POOL!!!

jus_lite_reading's picture

Fan, meet Shit. Shit, Fan.

Fukushima must have been a sign from above!!!!!!!!!!


bbq on whitehouse lawn's picture

Japan is the Isle of the Dead. In the US, well most didn't have to worry about living to 90 anyway.

I did meet a 95 year old man today active and in better shape then me 0_o. but im sure he was a vampire or worked for goldmen. Even if he claimed to be a cement mixer and woodsman/farmer or such . At 95 im sure he worked a few jobs.

Local born and lived or some crazy reason.

"life is a strange thing" ya don't say. :)


Quadlet's picture

What do you think happens when one side of the Pacific Plate moves 8ft?


What happens to the other side?

LawsofPhysics's picture

Yep.  Tell those banks the taxpayer will take 150 trillion to make the fraud "disappear".


Now things get interesting as all things "paper" become fully disconnected from reality.

101 years and counting's picture

oil specs left holding a lot of paper oil with expiration in a few which point their paper oil becomes physical oil and they have no where to put it......with cushing at all time highs.

tickhound's picture

CME Truck

"Don't like my driving?  Call 1-800-PRI-CTRL"

Sudden Debt's picture

Look closely kids, we're watching the start of another history chapter.

The paper market is comming down. The end will be something we didn't see since 100 years!

A supply demand situation in the commodity market where the producers/miners will define the price and not the paper market.


When this paper market commes down, we'll get stagflation with a vengeance!

Wealth destruction will destroy so many digital dollars that they won't even matter anymore.

The paper dollar will be flooded causing real economy inflation beyond belief.


The digital dictators will soon be put out of business.

And what can they do against it? besides printing money? NO THING! NOTHING!!


This event must be scaring the shit out of the traders on the floor. There just isn't anything that's real anymore.

Every number is fake. Every statistic is fake. All the words said are fake.

Just let it all crash and let's have ourselves a firesale on commodities untill everything will be sold for the next 10 years without any linked consumption.


Long-John-Silver's picture


Bring out the Guillotine and party like it's 1789.

Quadlet's picture

Are you kidding me?  Any idiot that tells you that the end is near is trying to sell you on his trading strategy.


Tyler, where is reg FD?


silvertrain's picture

The Snakes are now eating each other..When theres nobody left in the casino they have to gamble with each other..

SheepDog-One's picture

This marketplace is now like Fukushima, complete meltdown, but managed daily reports claim 'all is well, better than expected', as smoke billows.

BlackholeDivestment's picture

The ''Snake(s)'' ''know'' time is short. The ''builders'' have rejected The Stone cut without hand. What is mapped out, through deception and by the offer(s) of temptation, is the false claim of dominion. This is the cryptic ''knowledge'' of the forbidden gate, which is the bottomless pit of the liar, and the seal of the black hole which is ...death. The mark of debt, which cannot be paid, is the seat of Chairsatan's power. The tares among the wheat are no longer able to hide. The black holes within the harvest are easy to make out at this point. Their lack of disclosure, dark pools of illiquidity, new world order/lawlessness, weigh heavy in the BTFD Cup of fornication.


BlackholeDivestment's picture

P.S. In the name of our Father in Christ, keep rock'n, fear not, stand fast and do no harm.

firstdivision's picture

We are unwinding a bit like 2008.  Energy bubble pops, then equities go down, and a bank blows up.  So who will be the bank that blows up? 

TruthInSunshine's picture

Name some potential competitors to Goldman Sachs (now an alleged commercial bank) or JP Morgan (Rothschildian Lizard Bank of highest priority), and you should be on your way to some good guessing.

SparkyvonBellagio's picture

I'm not saying they're Lizards but in their HQ central atrium they have a large heated rock they all hang out by. JD himself has been seen 'warming' himself on many lunch breaks.


They also sell crickets in the cafeteria but that's probably just a coincidence.

TruthInSunshine's picture

by SparkyvonBellagio
on Wed, 05/11/2011 - 12:27

I'm not saying they're Lizards but in their HQ central atrium they have a large heated rock they all hang out by. JD himself has been seen 'warming' himself on many lunch breaks. They also sell crickets in the cafeteria but that's probably just a coincidence.


This is true. They can only withstand somewhat limited exposure to the sun lest they peel and suffer hyperpigmentation.

They also are cold blooded, as are all reptiles, so they desperately want to soak up the sun, and they do, but - and this is critical - do so with proper cover (so they don't hyperpigmentate).

They also brumate, even when it's not that warm outside:


When it's cold outside and they need to warm up, they often bask in the sun to raise their body temperature. When it's too cold to even bask, reptiles may brumate.  This means they're in a hibernation-like state, but they may have periods of wakefulness and even drink when necessary.

i-dog's picture

It's a shame we can't get Timothy McVeigh to park his truck outside 200 West and another outside 23 Wall. Missed a golden opportunity there.

BlackholeDivestment's picture

..uh, Tiny Tim, the Turbo Lover , and the Federal Orgy of Bitchez screwing themselves (MIHOP LIHOP) and U.S. all, are the same circle jerks dedicated to the Final Jihad crisis managment team of global arsonists. Get it right there ...sleepy pie.

i-dog's picture

I'm fully aware of that. It was just a joke directed at those who aren't.

vote_libertarian_party's picture

Obviuosly BAC.  They are the only WS bank up today.



Overpowered By Funk's picture

What happens when C drops another 40 pts.?

Dr. Richard Head's picture

I laugh my ass off at one of my clients who was recently giving me "insider information" on how awesome C is as a buy. 

LULZ.  Anyone getting burnt by paper after seeing all they have the past few years, deserves it. 

Sudden Debt's picture

It will only drop to 4/5$ than it will become a buy.

10% div. that's all that matters after almost 5 years.

Any bank that can't deliver that, will and must go down.

Banks are VERY risky assets! VERY VERY!

A little return would be justified.

And after 5 years, none of them can give any real outlooks on how to get there.



jus_lite_reading's picture

This time its much worse..... the economy was still alive without fake supports.... now we've got no economy and no more supports left!!! WWIII is around the corner!!!!

LawsofPhysics's picture

WWIII began a long time ago.  The currency wars may be near an end.  The trade war is about to intensify, then the bleeding starts.

Meatier Shower's picture

Rumor has it that it may be Merrill Lynch on the chopping block this time.

The Fonz's picture

BofA might be the takedown, they seem like the fattest kid running from the bears. Just do a search of all the crap they have weighing them down. A 30% interest rate on CC's and mark to market? I cannot help but wonder if they need some increases in current accounting applied forward to seem liquid. That 30% business is very short term you can't put that on people and keep it working long, that makes me think of desperation. Also there is that business with putbacks and all the crappy deals wrapped up in their aquisitions that represent a henious liablity going forward, they'll be sunk to take their secrets with them and all those crappy deals. 

ZeroPower's picture

Insane vol, big boys fucking with these futures...

besodemuerte's picture

SPY is down 1%...this is unacceptable, must halt all market activity.

Franken_Stein's picture


Looks like this whole shitty CME has gone SNAFU.


Does anybody know the name of CME group's CEO and chairman ?

i couldn't find it on their website.


cowdiddly's picture

Gary Gensler or Bart Chilton?

rambler6421's picture

I e-mailed Gary Gensler about the JPM & HSBC naked short position in silver....and market manipulation.  As expected, I received no e-mail.

Franken_Stein's picture


Emails don't work, you have to call them from a public telephone.

So they can't backtrace you.

Just in case.


Emails are easily brushed off and deleted.

No, you have to talk to a live person, to get a feeling of the atmosphere and mindset there.


Franken_Stein's picture


No, that's the CFTC, the regulatory body for commodities futures and options.


CME Group is based in Chicago, it's the private exchange operator owning NYMEX and its subsidiary COMEX.