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"Manipulated" WTI Tumbles To $48 Handle

Tyler Durden's picture




 

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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Wed, 02/11/2015 - 10:57 | 5771124 NoDebt
NoDebt's picture

Like watching a cat chasing a laser pointer dot on the floor.

 

Wed, 02/11/2015 - 10:59 | 5771136 HonkyShogun
HonkyShogun's picture

Like watching a tard that just got hold of a BBQ lighter.

Wed, 02/11/2015 - 11:03 | 5771153 Unix
Unix's picture

Poof, eh, what happened to my eyebrows?

Wed, 02/11/2015 - 11:09 | 5771180 Headbanger
Headbanger's picture

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.

Wed, 02/11/2015 - 11:26 | 5771254 Unix
Unix's picture

If so, that kitty is baouncing again and again...

Wed, 02/11/2015 - 11:32 | 5771294 bob_stl
bob_stl's picture

.

Wed, 02/11/2015 - 11:37 | 5771320 j0nx
j0nx's picture

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...

Wed, 02/11/2015 - 12:39 | 5771704 WarHorse
WarHorse's picture

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 

Wed, 02/11/2015 - 10:58 | 5771127 Karlus
Karlus's picture

Almost time to buy back in after the inventory report....that rig count is coming out Friday, you know...

Wed, 02/11/2015 - 10:59 | 5771133 Karlus
Karlus's picture

Hey, so what happens if Pooty-Poot cuts a deal today in Minsk?

Wed, 02/11/2015 - 11:02 | 5771150 HonkyShogun
HonkyShogun's picture

That, sir would be good for stawks.

Wed, 02/11/2015 - 11:00 | 5771141 medium giraffe
medium giraffe's picture

Yensplosion!

Wed, 02/11/2015 - 11:01 | 5771142 Impoverished Ps...
Impoverished Psychologist's picture

Fibrillations of algo induced price movements, obvious manipulation is obvious.

 

Wed, 02/11/2015 - 11:48 | 5771147 Unix
Unix's picture

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!

Wed, 02/11/2015 - 11:07 | 5771179 SoDamnMad
SoDamnMad's picture

SA is gonna play hard over Russia's threats.  We'll see who can hurt who.

Wed, 02/11/2015 - 11:16 | 5771223 Kayman
Kayman's picture

"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...

 

Wed, 02/11/2015 - 11:09 | 5771188 will ling
will ling's picture

but, but, but.... larry, did you mis-remember? you said "cut". are they gonna claw back?

Wed, 02/11/2015 - 11:17 | 5771224 wrs1
wrs1's picture

Gold assraped down too, back below the 50dma now, not good.

Wed, 02/11/2015 - 11:18 | 5771228 max2205
max2205's picture

At $20 Russia will be just a bunch of farmers 

Wed, 02/11/2015 - 11:55 | 5771410 Wahooo
Wahooo's picture

At $20 oil, Saudi Arabia will be speaking Persian.

Wed, 02/11/2015 - 11:22 | 5771234 geekz_rule
geekz_rule's picture

the Nanex posts remain some of the very on BEST ZH. <3 Eric

no opinnion, just solid forensic facts

P < P + I

Wed, 02/11/2015 - 11:23 | 5771243 I am a Man I am...
I am a Man I am Forty's picture

So gold should be at 5,000 and oil should be at $20????  Is that your point?  Something isn't jiving.

Wed, 02/11/2015 - 11:32 | 5771290 Elvis is Alive
Elvis is Alive's picture

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. 

Wed, 02/11/2015 - 11:38 | 5771323 orangegeek
orangegeek's picture

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

Wed, 02/11/2015 - 12:27 | 5771599 pndr4495
pndr4495's picture

Computerized trading is NOT progress , NOR is it innovation. 

Wed, 02/11/2015 - 14:07 | 5772185 1033eruth
1033eruth's picture

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.   

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