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"Manipulated" WTI Tumbles To $48 Handle
We previously detailed the manipulations ("spoofing") that has occurred in oil futures but yesterday 'took the biscuit' in the outright bluntness of the algo's efforts to manage WTI Crude. As Nanex exposed, a 'wild HFT algo' oscillated oil 21 cents a dozen times in 18 seconds and the 'spoofing' continues. It appears though that after the squeeze of the last week, selling pressure has returned with WTI testing the $48 handle once again. But, but, but, the man on the TV news said oil prices had stabilized and bottom'd... it appears "it's a Brian Williams world" as business media anchors mis-remember their exuberant bottom-calls from last week.
Yesterday's algo manipulations...
And Today's tumble...
Charts: @NanexLLC and Bloomberg
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Like watching a cat chasing a laser pointer dot on the floor.
Like watching a tard that just got hold of a BBQ lighter.
Poof, eh, what happened to my eyebrows?
Longer term WTI charts here:
http://www.marketwatch.com/investing/Future/WTI%20CRUDE/charts?CountryCo...
Looks like the past 10 days were just a dead kitty bounce.
If so, that kitty is baouncing again and again...
.
Noticed this morning that gas is still up 20c from last week when oil hit $53 handle. Now that it's back down into the $40's the price of gas is still the same. Took 10 minutes for them to raise the price of gas that day when oil jumped $4.00. Now that it dropped that much again in a few days curiously gas is still 20c higher and they haven't brought that ladder out lickety split to take the price back down to where it was yet. Curious how that works...
The supply overhang in Nat Gas is even larger than oil. However, NG is far more sensitive to changes in the near-term weather forecast than oil
Almost time to buy back in after the inventory report....that rig count is coming out Friday, you know...
Hey, so what happens if Pooty-Poot cuts a deal today in Minsk?
That, sir would be good for stawks.
Yensplosion!
Fibrillations of algo induced price movements, obvious manipulation is obvious.
I love the smell of napalm in the morning! I wish on those algo computers a huge SHORT! Can anyone put a bug in them, please!
SA is gonna play hard over Russia's threats. We'll see who can hurt who.
"Brian Williams World" Beautiful!
All MSM is a Brian Williams World. Cut, Pasted, Massaged.
Hope and Change. WMD. Beat the drum for war. Blah, Blah, Blah...
but, but, but.... larry, did you mis-remember? you said "cut". are they gonna claw back?
Gold assraped down too, back below the 50dma now, not good.
At $20 Russia will be just a bunch of farmers
At $20 oil, Saudi Arabia will be speaking Persian.
the Nanex posts remain some of the very on BEST ZH. <3 Eric
no opinnion, just solid forensic facts
P < P + I
So gold should be at 5,000 and oil should be at $20???? Is that your point? Something isn't jiving.
Oil market has always been goosed. See the link: http://www.forbes.com/forbes/2009/0413/096-sachs-semgroup-goldman-goose-...
It just was ripe for taking down when in 2008, and it was ripe for being brought up now. This is the world we live in thanks to the fucking Enron loophole gutless legislators don't want to close.
WTI Oil Monthly shows free fall and more downside.
http://bullandbearmash.com/chart/wti-oil-monthly-closes-sharply-weak-bou...
yellen can pump markets, but she can't hold them - CME shut down HFTs Sep 2014 - take that yellen
Computerized trading is NOT progress , NOR is it innovation.
It makes it ever so painful to hear people mention that prices are driven by supply and demand.
If I say anything about artificial demand, they go ballistic implying there is no such thing.