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WTI Drops Below $100, Down Almost 10% On The Day, Complete Wipeout In Euro Brent
The anti-speculator witchhunt is bearing fruit: following the wipe out in precious metals, the next, and key, target of this commodity take down, crude, just went from triple to double digits, hitting a low of $99.70, with the $100 limit orders resulting in a surge in the USD and accelerating the drop in EUR. Stocks continue to be completely disconnected from this massive liquidation across all commodities, as every mutual fund knows all too well that Ben will always step in and make sure that the Russell 2000 never has a downtick. Yet this complete isolation of equities from other products merely confirms that not even the HFTs correlate stocks to other asset classes. It also means that HFTs are no longer present in stocks, which means that even the fake liquidity provided by HFTs is no longer there, and we will likely have a far worse flash crash the second Brian Sack loses control of the stock market.
Yet the move in USD-priced crude is nothing compared to what is happening to Euro-priced Brent. In a word: "total wipeout"
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Nothing a team of Navy Seals won't fix now tht they know they can do it.
I guess that the contagion will move to stocks only after the Glencore IPO and the AIG secondary have settled...
Or not?
The correlation is simply that everything is good for the Russell 2000: bad jobs numbers = good; higher commodity prices = good; lower commodity prices = good; debt ceiling breach = good; no QE3 = good; strong dollar = good; declining real wages = good; slower economy = good; Europe insolvency or austeriy = good; Japan nukes = good; Japan Fiat printing = good....
There is seriously not a single data point that isn't bullish for the Russell 2000. It's all good.
All sorts of carry unwinds?! Dollar finally bottomed? Sharp moves like that and VIX is commatose... this market is having a seizure (only natural after Berknank-sponsored binge).
Let´s do this.....
If 35% of the economy is real....
Then this means that 65% is not real....
....................................
Which means 35/100th´s is the number to go to
from 100/100th´s....
What does this mean .....OIL could go to $35-$40...
Anybody remember last time around ....
.........................................................
Seems to be a few more issues on the horizon....ie municipals losing many billions.....and the total inability of QE to create oil and jobs....
Oh...you mean QE cannot create jobs or oil .....If this is the case ....then just what does QE really do.....it just further dilutes the real 35% .....
Hey BERNANK - thank you for bringing the volatility of penny stocks to currencies & commodities!
The Bernak is all powerful!
Just when you think the new insanity cannot get any worse, another week with hair raising market action. If you would have told anybody about what is going on now 10 years ago you would have been put off as a total crack pot.
In essence all markets have gone bi-polar. Only a question of a little more time until cardiac arrest sets in.
To me this is a day that just instills a lot of fear and uncertainty into everyone. I would not touch a thing right now with a 10 foot pole.
Who after seeing things like OIL drop 10% in a couple hours is complacently sitting back on whatever is in their portfolio? Im out of all of it.
Markets retracement to where it was 4-6 weeks ago in an obvious coordinated attack doesn't instill fear in me. It's evidence of fear in the bankster complex.
Sitting back on my portfolio is exactly what I'm doing because I have conviction about where this is headed, and I'm sufficiently diversified for these manipulated gyrations.
Hang tough, sheep.
Yea true certainly it all smacks of fear and desperation on the part of the central planning banksters, nothing has changed.
"To me this is a day that just instills a lot of fear and uncertainty into everyone. I would not touch a thing right now with a 10 foot pole."
But sitting in cash has been a losing positon, so you gotta play something. I hedged my physical gold with DGZ, so I'm not making a lot of money but I'm not losing either. Maybe cash will be king again, we'll see.
With silver you carry your own crucifix...
So what do you own there carbonmutant? You in the momo spandex and burrito stocks like RainbowTrader?
LOL... Silver just needs to close a few gaps.
You had to know from its 1980 performance that this was going to be a spike.
I haven't purchased physical since late December '10. It might be time to make another purchase. I've been waiting for the right dip.
CME and COMEX as well as the SEC are only there to protect vested interests...so read this action as whose interests are served by this action...then recognize that the planet at large is NOT dominated by THOSE interests and in fact there are plenty of moneid interests who are entirely divorcing themselves from and becoming the mortal enemies of the afore mentioned self interested parties...
There's gonna be a party that alot folks wish they never had to attend...soon.
I think 2 things are a safe bet at this point:
a) the global recovery is falling apart
b) the killing of OBL on Sunday was a staged event
The wreath President Obama was so cerimonously laying down at Ground Zero this morning was prepared about a week ago.
If any of you for only for a minute believe that things are NOT falling apart behind the scenes RIGHT NOW, I have a few words for you.
It's too late to try and scramble and figure out an exit strategy. You had 2 years and could have listened to many people giving their free analysis and adivse on the web.
Government(s) cannot create anything. Government(s) cannot spend more than their people can generate forever and a day.
The days of reckoning are here.
DO NOT collect on "Go", go straight to jail.
God speed to you all!
I wonder if Bush did not attend because he knew something was bogus about the whole thing and did not feel like participating...?
I wouldn't speculate either way at this point.
It's hunker down time. The internet as we know it will be shut down in a few days.
The US is losing the propaganda war and that cannot happen.
One can only hope that the details of the royal honeymoon come out before the internet goes.
Rest assured.
You will always be fed the fairytales and the mock controversy.
But what will be more and more difficult is to establish fact and truth.
Its definitely on the edge of the cliff.
Maria Bartiromo just said it: "Maybe Bernanke is right. Maybe all this inflation is transitory."
Mission accomplished.
Now let's get back to reality.
At least NFLX is up.
Looks like a Bob Doll woke the fuck up and just shit himself. Timber.
"Deflation . . . wins"
"Fatality!"
All those poor saps who heeded the call to plunge into physical silver will bow find out the awful truth re buy/sell spreads for same. Oh, I'm Never going to let certain people forget This one!
Ive got lots of physical silver, and buying MORE! You can stay in your BS paper while the entire system crumbles behind the scenes, whatever go ahead!
Dollar is up 1.5% to 74.1. Back to 4/22 close - that's it. No parity with commodities moves, so more evidence that the latter is a coordinated raid.
Crude prices will take 3-4 days to show up in market if they hold or fall further. But ag commodities take 4-6 months. The big rise in corn, wheat, and soybeans has only begun to show up in retail prices.
We store. We wait. We win.
Yes, and you can stand by for shortages. This looks more like the result of threats. That and the same folks that issued the threats are making sure the markets don't crash at the same time. Void of any news of significance there is no reason for these moves except that manipulation and the iron fist.
Imfuckingpossible. I think they actually made selling equities illegal.
Actually, I'm enjoying the show. My silver basis is right around $17 - never actually kept track, but bought most below $20, so it may be lower. I'm willing to go in for more around $28-32, but I'll wait until things calm down a bit.
Meanwhile, killing the oil rally is really a good thing overall. Fuyck $4 gas and the oil cartel. $2.50 sounds more like it. Stocks are now solidly lower, overall, and that's good too.
MARGIN CALLS, BITCHEZ!
yes...and the result might remind you of the 70's.
Coordinated crony central control corruption.
Who does Obama, Holder, and the CFTC work for? The American People or the Banks? No prosecutions or investigations despite coordinated price fixing?
Soros and Goldman Sachs would have the inside track on this because they funded the political campaign of this administration and have positioned for the drop in commodities.
Silver may have been a trap to destroy political enemies, because Ron Paul is invested almost solely in precious metals and miners from the filings the last time he ran. In addition, most individuals that are not into having their savings stolen through inflation and zero real interest rates for bank deposits and treasuries while the Fed and its big bank owners pocket 1% on all the public debt that they just print, are looking for a hard asset to protect wealth. There probably is not one pro-Obama site that promotes silver and gold ownership. These people are generally for responsible limited government spending - political enemies that now will not have the excess funds to support their political candidates. Clearly this is agitating enemies. Chicago politics.
The bigs are just churning through asset classes, like strip mining wealth from the nation through blowing stop limits and jumping from one asset class to the next. The volatility is coordinated and they benefit from it, you would have to be a moron to believe this is a market. This is price fixing. The price is what they say it is. Bankers with quadrillions in derivatives and a police state to enforce their will.
So one day they get together and say let's run silver to $50 and then we will all sell and short it, we'll call in our captured regulators to hike margins, and then we'll have the financial news media that we own run stories about how silver is a top to drive up the panic. We'll buy calls on the way up while selling puts, we'll then sell calls and buy puts before the drop. Most of the financial news is bought and paid for as part of pump and dump as well as dump and pump schemes.
Perhaps they stole Libya's gold and silver and dumped the supply on the market - the first day of the "rebel" movement they had set up a central bank and captured oil fields? Perhaps this is a shakeout for the bigs to re-establish positions and access physical assets at a much lower price.
Roll out the Bin-Laden story and then right when people jump in with both feet, they short the entire market, commodities and equities. Sorry, but unless you have purchased downside protection (a small percentage of insiders) there was no safe asset class unless you consider treasuries or the dollar safe. This reminds me of the May flash crash last year. Bernanke wants to hear everyone beg for more QE, louder, louder, and lift the debt limit!
JPM has been bailed out again on their shorts at the expense of small investors, when losing they just keep moving the goal posts since they own government regulators.
yeah! C5=Coordinated crony central control corruption.
Barry Soetoro's mouth moved (via teleprompter)...
Did Goldman make money on this trade????
Hey, where have your silver posts gone during the crash? Anyway, it was a clear bubble and predicted by many here.
34,26. its getting too fast. Just a reminder of how the March 13th graph looked like- it does go down fast, I myself can not tell from the graph how fast from top to bottom- to little pixels. Its now 11 days from intraday top of 49,72, so its a 29,5% correction in 11 days. Not bad.
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&start=40#p31020
In the original chart, if i magnify it, peak to bottom seems to be 13-17 days. That is latest next Wednesday? Lets say, next week silver will bottom out.At around 25-30.
I will buy every day it goes down.. and I can tell you that the pricing or backwardation or fucking disconnect is getting bigger the lower the price goes. People are listing now that they have U.S. Silver / Gold for sale and then saying sold out! or whack a mole on price!
So the paper markets can say whatever, but the physical, real and / or.. in hand markets are saying something completely fucking different.
for instance..
Silver Bid: $34.79 Ask: $34.842006 Silver American Eagle 500-Coin Monster Box (Sealed) (FS)
Any Qty $28,420.00 $29,272.60that is almost $60 per oz.. almost. so paper is not real and then real is $60 fucking buck an oz.
total bullshit...other reputable sites have it under 20k for a 500 box. Call CNI.
You pumpers are shameless with your cherrypicking
By the way, I predicted this early May dip in Brent oil prices already on February 6th:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a#p30486
That is , Brent 100-110 USD.
Today, Brent is 110 USD. That means that bottom is very close, this week or early next week. And that will be the last bottom that is so low in many years to come.
What follows is a rapid increase in June-July to 140 USD (QE3?)
Please then explain gold, oil, grains etc, etc ad nauseum. This was a concerted commodities take down as there is no news to cause these type of drops. It looks an awful lot like coercion.
Looks like bankster desperation to me, theyre in deep shit.
Posted this on another subject but what if....tomorrow....
the UE rate goes up to 9.1 or 9.2?
Everyone is talking about physical diverging from paper. If that was the case - divergence between physical and paper, then why isn't Sprott's physical backed bullion trust also dropping a corresponding amount? Their fund is 100% backed and they DON"T LEASE out product. This is the gold standard in the physically backed bullion.
There is a supply squeeze from the mint to the stores... but there is plenty of silver, just momentarily tight at the consumer end. Make no mistake about it, the coin shops have orders in at $50... and if they can't sell at $50, then they take a loss. They are trying to keep their premiums up until they work through their $50 bullion purchases.
I'm also long physical and expect silver to be above $250 within the next 6 to 18 months. This is only the close of Act 1.
....and, of course, everybody 'in the know' already knows ....and that does not include us....
I'd like to place a phone call to Duke and Duke.
Have no fears, oil will bounce back to $160 real soooon. This is what The Bernank might call, "transient deflation."
As we burn kerosene @ 42, Contango(wti) still exists and Brent is a bit tempestuous.
It's those worthless pipelines. WTI is guaranteed in price, even though light SWEET is sitting off shore. Tankered UPPP! I'm sooo pissed off right now!
Oil is one thing that will move up, a trend that even a mega US deflation possibility will not kill, but over the longer five year term. I don't trade in oil or PMs.