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Oil Pumps-And-Dumps On Smaller API Inventory Draw
Crude oil jumped (algorithmically) and then dumped (humanistically) after API reported a 2.9 million barrel inventory draw. This drawdown is notably lower than the 6.7 million barrel draw last week...
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lol the top of the vertical axis on that chart isn't even past 61 and the bottom starts at 59... a better example of statistical noise that no one gives a fuck about I have yet to see...
like I said folks, RTHedge won't stop posting this useless bullshit until oil is back up above $100 US... at which point, it will still be priced in $US... lol...
Another one banned and blocked for posting this. I guess I'm next.
https://youtu.be/68V1-2OGeYw
Lately, if I see any of the words pump, dump, crash, plunge in a ZH post, I immediately look at the vertical axis first.
59-61 is a fat pasture for algo.
It's even more absurd than you state. It appears that the "pump" started @ about $60.05, surged (LOL) to aprox. $60.32, and then "dumped" to close @ $59.97.
Nothing more than a little headline drama, we can all move on.
J
Inventory flat at peak driving season.
Look out below.
Russia plus Saudi Arabia plus Canada sure sounds like the kiss of death for shale to me...so far I've been totally wrong tho.
Funny that coal would get killed tho...that's the most valuable energy product there is in my view.
Certainly can think of a couple terrific utilities worth buying right now.
WTF is going on here at ZH...this type of bias is absurd or is tyler short a pile of oil futures at first GS call at $45? Yes the draw is lower but i ask this GS said we would see Cushing overflow and so did you ZH..has that happened? What about more supply and more rigs at $60...happen yet? NO NO and NO. This site is constantly pointing out media bias and mkt rigging but not once on OIL..I ASK WHY.
Uh, read the chart again. This time read before writing.
Another 30 cent move. Oil is INSANE!
BFD. NOT!!! Is this the best that you can do? Try SPX futures next time. Rather crazy today - no? Yes.
http://finviz.com/futures_charts.ashx?t=ES&p=m5
And who gives a flying fuck when oil finished the day up rather smartly. And from the chart, I have ahard time seeing a big move following API. EIA tomorrow is the important number anyway.
http://finviz.com/futures_charts.ashx?t=CL&p=m5
Cmon Tylers - get a grip.