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Energy Futures Market Halted, Unhalted, Daily Limits Doubled
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.
Update: CME RESUMES TRADING ON NYMEX CRUDE, PRODUCTS FUTURES
Uh, what?
- CME HALTS TRADING ON GAS, CRUDE OIL, HEATING OIL FUTURES
- CME TRADING HALT IN ENERGY FUTURES WILL LAST 5 MINUTES
So now crashes cause the entire market to be halted? Swell
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Yeah - wasn't expecting a second raid.
Damn! And me with no dry powder...
all of them!
There went a couple more hegde fundies on a stretcher.
Coordinating a prefect storm? We just need to watch their moves! They have been doing a number of structural tricks (margin hikes, increase gurantee amount, downgrading etc) to change the micro structure. Hang on people, here come the ride. For PM physical holders, you will be all fine at the end, no worry! For PM paper holders, just be smart and hedge yourself. Good luck!
http://www.kitco.com/charts/livesilver.html
Nice movement in commodities there.
alternate markets are coming.
You means Hong Kong gold futures? Wait until next week for 1st day and I suspect there will be cyber attack and system failure.
Damn, I hope so. This crap must stop!
Get a rope!
Roger that -- the Hong Kong version of the "Frontier" is opening up across the street front the CME's "Westward Ho" soon
Things is lookin' a little Flash Crashy.
OT: Finnish social demorats sell off their voters, as expected, and agreed to support all and any insolvent country or bank who wishes to get more money to build Formula 1 race track like Greece or what ever they desire. Wonder how much interfering from EU-commission behind the scenes was needed to turn the social democrats around in return for some token concessions which are beyond laughable. Another sad day in this farce...
I'm glead I didn't order that Finnish flag yet. Yeah Iceland.
CRASH DAMN YOU!
I share your sentiment txsmithfix; but there have been shock absorbers in place for equities for a few years now.
Don't look now but over on the right margin RAN Squawk is bringing in the Finns again, saying they are in agreement as a government that Portugal must begin negotiations with lenders to keep holding debt.
Black Swan Wrestling Network Power Hour
LOL!
What, is everybody fleeing to the safety of the dollar.
Safety of the Dollar ? snark/
is someone mad or what ?
This whole market is a FARCE !
Really?
It appears to be operating just exactly as its owners intended it to.
Casino's offer fairer opportunities than the Markets.
YOU ARE CORRECT SIR!
110% Spot On!
They also offer free stays/food/shows/golf if you're a frequent player or large player.
Girls at the bar too.
Wow, glad I'm short oil.
On a long enough timeline
the entire planet
is short oil.
When things don't go your way, just change the rules...Isn't that what free markets are all about?
Fascinating. The CME raises trading margins to engineer a drop in commodity prices, then as prices collapse they halt trading?? Isn't this what they wanted? It seems to me the puppet masters are getting hot under the collar and not making sense and making rash decisions. Soon, everyone will lose faith in the markets when they realize that the casino not only changes the rules will nilly, but that they display the rational fortitude of a house fly.
by AR15AU
on Wed, 05/11/2011 - 12:18
#1263480
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.
Please don't insult House fly's.
At least they serve a purpose !
They only stop the crash, that they themselves started, in the sectors they want.
Picking winners and losers is now completely up to GOV/TPTB.
You know someone with faith in the markets?! Wow!
The insiders have agreed the bottom and top targets in advance and can fleece the other players on each ramp and fall. The JP Morgue will have solved their silver short with just a few more of these.
+++
All too obvious to those with eyes.
And illogical?
I expect it to get really crazy the closer we get to elections. They are getting more and more desperate to get the lipstick to stay on. Ah those efficient markets and the slow caress of the invisible hand.
They needed time to wake up the jpm trader.
When it's a farce market, the joke is always about the last laugh.
Who needs energy when you have NFLX ?
+2500%
Hilarious.
Inflation stopped cold with margin hikes and a flurry of "Short at Market" order tickets.
Bernanke is a genius.
Bond market saved again.
and, you never tire of giving him blowjobs......you forgot to add that in
RainbowTrader pretends to make fun of 'the pigmen', but secretly dreams of becoming a pigman himself....youll never be da man Robo.
i'll give you this one Robo...this is a UST auction week.
Is that little blip way over in the right hand corner the 'SAVE'?
LOL
Inflation when measured in IPads that is.
When desperation peaks, concerns about concealment are abandoned in favor of SAVING YOUR ASS
Don't think we're anywhere near Peak Desperation yet...
...these are just 'low hanging fruit' atm.
Who cares? NFLX is up.
Uncle Gorilla smells blood.
Every energy and PM fund is going to be Amaranthed, then QE3 will begin in earnst.
Absolutely brilliant.
All hail the printing press !
Sieg Heil ! Sieg Heil ! Sieg Heil !
SCHNELL ! SCHNELL !
Sure, but it has taken him longer than the 15 minutes he touted.
you know what your problem is? You are a turncoat. You are a commoner drooling for an opertunity to join the elitest ranks, only Your lack of loyalty bars you from acceptance. If you didnt reak of self-importance and fawning for materailism, you would have a nice corner office at jpm or goldman "buying in" to the lifestyle which is despicably comfortable. Stop lying to yourself, you are not part of the enemy.
He's worse than a turncoat. A lot worse. I'm ashamed some these fucking cowards are my fellow Americans. It is apparent they have no spine to stand up for anything else but their own selfish and toe kissing ways.
I have no idea why they post here at ZH as TD and crew disagree with them on almost everything.
They are delluded into thinking they are part of the ruling class (symbolically and literally) inturn, they lack any self worth because they seek it soley from that false-identity. So they end up here, to find some acceptance. Unfortunately they fight that feeling because it challenges their false identity, cue the "trolling," or just being a regular douche act.
Fucking AUD finally tanking.
Which idiots still betting the RBA is going to raise rates, fucktards.
Maybe the new and improved POMO schedule was left blank and pre-released...and that is "your" market Robo...
No POMO...No Robo
the salvation of the mad market is the perception of furious motion that puts every body on the defensive. As the volatility keeps you guessing. That's the game plan up to the next election...Keep chasing the shadows in this mad market. What happens wen QE stops is the big unknown...
The market surged way before QE started. By the time QE stops it will probably bottom out and we will be left to wait for the QE3 announcement surge.
which should not be too long to follow as the wind down possibility is now looking too dangerous for TPTB, in relation to Nov 2012 deadline.
USO:
http://markettechnicals-jonak.blogspot.com/
Posted Feb 16, 2011:
When DOW/S&P500 correction gathers momentum, I expect:
UP ~ USD, various USDXXX currencies, VIX Index
DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like COPPER etc, CRUDE OIL.
http://stockmarket618.wordpress.comGold back under $1,500.
Wonder what excuse General Jim will use today to explain the market action?
$1,650 looks like a pipe dream right now.
+1
Please don't mention who's in control of "price discovery" @ oxy
You're Bra is showing !
Much like your S&P 1550
Meanwhile silver at $ 35,597 -7,56 %
I don't know what you are all talking about ?
These are TOTALLY normal market movements.
Happens every day, any day.
Any impression of escalation of events is totally imagined.
/sarc
Right, just normal market trading between unfettered buyers and sellers. Certainly no daily margin rate hike ham fisted manipulation or anything like that.
Will BRK-A finally break 120k to the downside?
Aaaarghhh! To ABX or not ABX.
On the CNBC homepage if you click on the tab for 'Oil' it shows Gas down 7% and right below it is a headline story 'Why Gasoline Will Keep Rising'. Kudos to you Sharon Epperson!!!
actually i do expect that before 2012 elections
we will see oil in 50s...
reason is
US gov/Fed is out of bullets to jump start the economy
QEs - dead
bonds rates - dead, low as ever
housing - dead
OIL -
so, only east and quick fix is force oil prices to
come down to generate disposable income $ 300/500 per
month to spend..
it will help, but 100% sure after 2012 elections we will see final hyperinflation push, %rates are up, commds are up , stocks are down..
alx
With no regard for the economies of the arab world. Maybe Kadaaffi had it right "I will only accept Gold for my oil"
and then he got blowed up !
So let me get this right. -The dollar will be worth 50% of what it is at the moment and the arabs are going to accept it as trade for their "Black Gold"
LOL
You're not supposed to think more than the 10ms into the future that the HFT boxes can see or swindle.
The paper price might be $50 but an oil refiner might not be able to find physical oil at that price to turn into gasoline.
Point and figure targets 18 for silver.
The hot dog man on the corner of 57 street and 6th ave. has moved to the middle of the block in front of Stacks. Even a simple hot dog vendor knows the smell of bad financial decisions. That is why there is a hot dog cart in front of every Casino in Atlantic City.
On the bright side, you stackers won't have to worry about people breaking in to steal your stack.
That is about $8-10 too high.
Is it the smell of bad financial decisions, or the stink of market manipulations?
Next time, if I again hear of something terrible happening in NYC, then I will remember you and yours.
Agreed, the Smell of Desperation is now heavy in the "air"
Another year of borrowed time to stack at these prices [or lower] will facilitate my sleeping better at night. My PM piggy bank is reserved for emergencies or purchase of farmland.
I'm about to jump ship. This is all ridiculous. Sure, the dollar is a scam, but what do you call this?
Physicaly silver/gold isn't even attractive when they can draw down the spot price with this BS
lol
It's funny when you see two "people" try to team up to try to influence things for a "purpose"
Not funny, but sad, because we taxpayers are paying their salaries, and this is the best they can come up with.
Excellent.
We want as few weak hands as possible. Go ahead and sell into weakness.
A recipe for $13
T-mo, you just don't understand how things work. You think history means the last 3 years. Remember what this feels like. This is what it feels like to be inside the bubble. This lesson, if you learn it and survive it with any capital, could serve you well in the future.
Uhh, just because I started investing in silver three years ago doesn't mean that I don't know anything that happened before that.
Also, nice try with the 9 week old sock puppet. Taking the role of the "hardened" investor talking down to someone who is down a little bit from the absolute highs might work against someone who doesn't have a high level intellect.
You guys really need to let these sock puppets cure a little longer before trying to use them. They just fall apart if you don't make them seem normal for more than a couple of months.
I'm not a hardened investor, just a guy that pays attention and has studied a little history (and has made some money). This run up in silver has all the classic characteristics of a bubble. If you look at cycles, or wave patterns, whatever you want to call them, all the signs are there. All parabolic moves crash eventually.
Here's another hint: try to remove emotion from your investment decisions. It's obvious from your posts that you're very emotionally invested in silver, so you can't see the truth of the bubble. If you're in it for the long haul, like I am with physical, then this shouldn't affect you so terribly. I'll buy more physical, but probably not until it gets below $15, which it will.
"I'm not a hardened investor, just a guy that pays attention and has studied a little history (and has made some money). This run up in silver has all the classic characteristics of a bubble. If you look at cycles, or wave patterns, whatever you want to call them, all the signs are there. All parabolic moves crash eventually."
Yes and no. It was a bubble, and a parabolic move, yes. BUT, simple bubbles never reinflate. Silver and gold just keep coming back over and over. Nothing does that. Nothing. So dismissing it as a simple bubble ignores the history behind central banking. They are going to continue to hammer gold and silver as long as they can. It allows the central banks to scare gold and silver into the markets at low prices.
If you are believer in gold and silver, buy physical and short paper on these dips.
Agreed. It was a bubble and it popped and it will eventually reflate again, I'm sure. But, my posts are directed at those who, like T-mo, see this as just a little glitch in the silver run up to the moon. I say, maybe silver eventually goes to the moon, but would you rather buy at $48 or $25? I'd rather buy at $25 (or $15) than near the top of what was obviously a manic run up. That's why I said, remember what this feels like inside the bubble, because we'll have more of them, and if you can remain objective and not just blindly follow the herd, you can make some real money.
Sorry, double click.
Your post doesn't make sense.
If you want gold and silver just to speculate, one would have bought paper silver or a leveraged call on it.
If one believes in the endgame on the other hand, you'd go physical instead.
Why would one sell at a loss ?
Those people are longterm investors.
I'm speaking of years and decades, not next week.
Think about your pension !
Your retirement.
You still want to live a decent life in 20 years, in 50 years.
Do you really think the politicians will not plunder your Social Security and Medicare / Medicaid ?
With all these budgetary problems ahead ?
With the debt ceiling soon to be broken ?
You must be mental to believe that !!!
Social Security, Medicare, Medicade, are already plundered. They are unfunded, so the national debt is the evidence of the plundering.
I guess I'm referring to my paper investments.
It feels like every call/put or leveraged move gets clobbered because some news story comes out and no one understands what that means. EU not lending to greece is somehow BEARISH for the euro? is everyone insane?
The problem with markets is your wealth gets ascribed a value absed on the opinions of millions of morons.
I just wish there was a place to put money that doesn't automatically lead to you getting robbed. Long term on physical is fine...but what if you bought gold in 1975-79 hoping to retire in the next 10 or even 20 years? you'd be screwed - and 20 years isn't daytrading.
BINGO! Granted fractional reserve banking is a joke. But the fallacy of the silver bug thesis is the assumption that since the dollar is flawed silver is going to the moon.
Zerohedge silver bugs vs. U.S. government who do you think is gonna win?
Say Goodnight bitchez!
Good point, but history tends to show that it goes up when a fiat currency fails. The price action alone should tell you gold and silver aren't just another commodity like pork bellies. The will go up. How much is anyones guess.
More importantly, physical anything, will retain its value as fiat goes to zero, thereby protecting your assets. Gold and silver just happen to be universally recognized as having value, are easily transported, and easily converted back to paper. So if they don't go to the moon, it still doesn't undercut the argument that holding physical is the smart thing to do.
True, but silver has already rallied 1000%. Smart money bought it years ago.
mmm... Whatever you're smoking, it isn't helping your deductive reasoning...
Just noticed--one week, 5 days.
Christ, it's like every fucking person in the damn comments section is one guy. Take a million different tacks, and attempt to separate everyone else from their physical silver.
Tyler--can we close new account registrations for a while? This is getting ridiculous.
you should take some litium. I've been at this longer than you - sorry if my online whining doesn't have as storied a history as your's.
Blah blah blah. Whatever you say, new sock puppet.
But seriously, sell your silver. The weak aren't fit to rule.
Posted Feb 16, 2011:
When DOW/S&P500 correction gathers momentum, I expect:
UP ~ USD, various USDXXX currencies, VIX Index
DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like COPPER etc, CRUDE OIL.
http://stockmarket618.wordpress.com
Not to worry, new POMO schedule release at 2pm, it'll be green skies at the close!!!
CME are traitors. They should have done this crap back in 08 when we saw 300-400% price increase in rare metals/food/cotton... ect... But no... where the hell were they then?
CME are unlected scum yet they control much of the world's commodities prices.... freaking insane world.
"CME are unlected scum"
Ah yes, elections, that is the ticket.
Your ridiculous populism aside, you do understand that the CME isn't the CFTC, right?
Did Bernanke/GS/JPM order this hit?
If not, then they certainly are willing to look the other way.
Oh look..., over there! We just convicted the fat Indian guy!
UST auction must be in big trouble.
Yes, Ben needed a "flight to safety."
... and "flight to safety" may last for a while
Outright panic buying in UUP.
How's your Retail sector investment working today?
Yawn.........'nother day in the paper casino
GLD:GDX Ratio Traders scored huge once again.
Easiest money made in 2011.
Reward is proportional to risk. That situation could turn on its head in an instant--say a whistleblower provided proof that GLD and SLV were fraudulent. Money would fall over itself to get out of the ponzi, and the only place they would have left to go that was still paper would be miners.
AVL still knocking on that minor support at 7.42.
This could leave a mark.
I mean, How does the CME do it ?
They time the market perfectly right before the close of the Comex. (Them's must be genius's)
The same reason that all the banks combined trading had 1 (one) bad trading day in the first quarter.
Them's all Genius's !
sarc/
Absolutely not, it's fixed, but if you knew who was going to win a horse race and could still bet, would you? Same here, hate what they are doing but play on their side of the field
Again, the choices are type and bitch OR make money with what we see, as I typed here 2-3 days ago, with the rise in mgn req. on crude it will be like silver but not as bad, the feds are saying WE WANT OIL DOWN so buy puts on futures or just short it and benefit. I bought some June 100 puts and July 100 puts, paid $1.80 currently $2.50 and I paid $3.60 currently $4.55 Those here are smart enough to see whats happening, don't fight it capitalize on it.
fellatio,
I understand and respect your point !
But, isn't that the basis for this whole fucked up economy/market rapped up into one paragraph ?
guerrilla warfare. Amase the resources you can from you enemy, then when the time is right use those resources to fight them. 1776 style.
The FEDs can manipulate a paper market but at some point the producers of the real asett say enough and refuse to sell at an artificial price. With the FED printing money, we are essentially stealing their resources.
Got my hook in the water. PHYS is approaching NAV for today - Gotta buy when FRN increases .vs. GOLD like this
Screw the trolls. Don't know why anybody gives them so much bandwidth on these pages. It isn't like they bring anything useful to the intellectual debate AT THIS POINT IN TIME. If 2016 roles around and we haven't had a currency collapse, wake me up. I'll reallocate what is left of my decimated gold portfolio
Robotrader's mom just called me and asked me if she can get a PPO against her "retarded and dangerous son."
This gets more ridiculous every day.
Watch for the next GS/Wall Street/DC/Elite Proclamation:
"You are ONLY allowed to buy financial stocks!"
Guiding the Sheeples.....
This is nothing more then the unwind, before the ramp up of QE3.
Guys, let's all stay focused. Don't freak out because if you have properly prepared yourself for the worst (food, ammo, cash, PM, etc) you will be OK. The swings of the pendulum will just become greater from this point on until it hits the destruction modulation. Think about it, if the price of silver went down to $5 today, would you really sell?
Bernanke has no more control over nothing, the cat is out of the bag and he aint a hoppin back in.
Bingo.
Looks like the dead cat has been hauled away, or perhaps going to the top of the ladder for another attempt to bounce another day.
POMO pump into a green close after the Comex closes in 9 minutes.
Watch !
Update: Maybe I was wrong ?
"A horrible war being prepared in
The West, The following year The
Pestilence Will Come, So very
Horrible that young Nor old, nor
Animal may survive, Blood, Fire,
Mercury, Mars, Jupiter In France."
Nostradamus -- C9 Q55
What is WWI and the Spanish Flu?
What is WWIII and the swine flu?
Hate to break into the party here but the number 3 reactor @ Fukushima with the Plutonium fuel just caught on fire again.
Live feed !
http://www.youtube.com/user/tbsnewsi?feature=feedlss#p/l/-ZPYlazljME
Come on, Japan has already been wiped from the collective memory thanks mini commodity crash and Bin Laden take out. Now go turn on your TV and watch the real housewives of Tel Aviv.
Radiation is still falling on the West Coast of the USA from what I read--esp Californai, Washington and Oregon.
if true, don't expect a feature on 20/20 anytime soon.
FWIW - While they are up a small bit - my counters still only read levels consistant with normal background radiation here in Seattle.
CME Group Board of Directors
1. Craig S. Donohue, Chief Executive Officer
http://investor.cmegroup.com/investor-relations/management.cfm?bioID=7652
2. Phupinder Gill, President
http://investor.cmegroup.com/investor-relations/management.cfm?bioID=7653
3. The rest of the Board
http://investor.cmegroup.com/investor-relations/management.cfm
Please read through their CVs to gain more knowledge about these "people" and their background.
If you want to mail them:
directors@cmegroup.com
How To Go Broke Trading Silver Futures by Karl Denninger
http://market-ticker.org/akcs-www?post=185905
Yes, quite the authority KD is on PM's. LOL. Nice try douchebag.
And you were who before Zing? Dangertime? Billy? Tarzan? You guys change names every week. Hard to keep up although the message is always the same.
CME group's board of directors:
1. Craig S. Donohue, Chief Executive Officer
http://investor.cmegroup.com/investor-relations/management.cfm?bioID=7652
2. Phupinder Gill, President
http://investor.cmegroup.com/investor-relations/management.cfm?bioID=7653
3. The rest of the board
http://investor.cmegroup.com/investor-relations/management.cfm
Please read the CVs of these "people" in order to gain a deeper understanding of their background and motivations.
Interestingly CME Group controls COMEX, NYMEX, CBOT, Globex concentrating the commodities exchange business in the U.S. in a single hand.
The whole process of concentration took place since 2001, under Bush's regime.
They also command a huge commodities derivatives arm, who woulda thunk ?!
How To Go Broke Trading Silver Futures by Karl Denninger
http://market-ticker.org/akcs-www?post=185905
Fuck futures - buy physical. While they can keep this charade going longer anyone can stay solvent on margine - they can't keep it going longer than you/we can hold physical. When the music stops, the paper Ponzi will unwind faster than anyone can re-allocate...
crack that whip!
whip that crack!
They have until the 18th of May. When the HKME opens i want to see how far this bullshit will get them.
Go back to the ghettos you sprang from silver bugs!
New lows. The wheels are off!
What, is silver under $1.25?
lol
Sorry - still in the money - still buying... Will keep buying this train until it goes negative.
If you have a position from $17 or below, I have no issue. It's these johnny come lately silver trolls who are long from $35+ and are acting like that entry point was the deal of the century. They will be torched in the end. Process is underway as I type.
Will do, and will say hi to all your relatives when we get there.
Back to the GHETTO!