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The illiquid algo-induced idiocy that are the 'markets' is nowhere more evident than in WTI crude futures this morning...
It appears the positive USD-Oil correlation has broken.
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oas, wll, clr to zero
Not to sound apocalyptic or such, but the end of the age of oil is nigh...
https://www.youtube.com/watch?v=FjmWeypvoQg
This was an easy one, check out my site and technical update on Crude Oil WTI:
http://tripstrading.com/2015/08/29/weekend-update-sp500-10y-ust-crude-oil/
goodbye petro dollar. nice knowin' you.
The owners of the Petrodollar system will be the owners of whatever new petrocurrency is introduced. We better hope it turns out this way unless we want a real world war.
"Those that give up essential liberty to obtain a little temporary safety deserve neither safety nor liberty." - Ben Franklin
I give you a redder for cowardice...
Save this Bullshit crony-crapitilized-petro-ponzi? MrBoompi: bullish know-nothing-bitchez.
Good riddance. Most likely a world trade note. However paper wealth may tumble 50-60% along the way.
oil is crashing, gold is soaring, stocks are tanking, obama is sucking, congress is pooping, hillary is lying, sanders is socailizing, trump is stumping, gays are buttfucking....
That last part is fun.
Bigots are bigoting.
The "diversity is our greatest strength" crew is precious when they apply negative judgements to truth.
No, I'm sorry. I've been around long enough to spot a bigot, even and especially when they don't want to admit it.
Which part hurt your feelings the most? The butt fucking part?
This is the second time todday you said oil is crashing.
Because this is the second time it crashed today?
Or the second time they wanted to generate a click.
It seems this price action is just part of a trend that began a year ago, when the price crash actually began. If the lower price was due to some geo-political strategies, those strategies are most likely still in effect.
I wish gold would crash. Love it when they put it on sale.
They don't have Gold for sale Stupid, what they have is a paper promising gold .
Right. Remember, when it says you have an ounce, you really only have a share in that ounce. There's about 100 other share holders. So, you really only have 0.01 ounces. It's very fucking expensive when you put it in that light, versus paying nearly the same price to have an Actual ounce of gold sitting in your prepper shelter.
you mean all those shiny coins I have stacked are not really gold coins, but really just paper? Whoa.
Really? Here I thought Kuggerands, Maple Leafs, etc. were gold. I never said anything about buying paper. Wait! Is this Gartman?
uh, the crash already happened from June through last friday. now it's on its way back up.
not till it bottoms at 25.
The only thing crashing is the IQ of whoever posted this article on ZH. Looks more like a reflex to the melt up we will soon see from black gold.
If by "crash" you mean spiking back up again, then, yes, oil is crashing.
I may have missed the irony in this post, my funny bone is crashing. But what we really see is a dollar melt up, prior to potential super-nova. Gold, oil, real money - pretty paper not so much.
Tell them to upgrade from Windows 8 to 8.1
that will fix it
Jesus, yeh that looks like totally normal price movement in a few minutes. lol
the new normal
Short squeeze is over, let the selling commence. I'm curious to see exactly which hedge fund melted down with all this commodity carnage.
Likely you'll hear the screams from the Hamptoons all the way to Philadelphia.
Oil will likely pop to at least $52 before resuming any downtrend again. Just my opinion of course, and I'm usually wrong. Feel free to counter-trade me. :-)
$43 major support now. WTI is a buy all day today.
Oil is such a barbarous fuel. Unfortunately, there is a finite supply of fiat, Banksters and Congresscritters to burn...
my 1oz Britannias are getting delivered today.
Oil definitely got ahead of itself last week (for a bullish algo goosing) but I'd hardly call this a crash. It hasn't even declined below a TL off last Wednesday's lows, nor retraced .618 of Friday's gains.
When you have to look at the 1-min chart in order to recognize a crash, it isn't a crash.
Relax, the algos are just over-reacting because the Chinese turned off their factories and cars so they could get a rare sunny day, for a military parade.
FYI, not every dip is a 'crash.' If you call every downturn a crash, then the word becomes meaningless.
Too bad oil shorts got stopped out with a two day 17% rise. This might just be the chance for some of the stauncher shorts to get out before they get destroyed as oil powers back through $50. Last week was an outside reversal on the weekly for oil. Short at your own risk. I don't see a 2.5% pullback as a crash but that's just me.
That had to be the shortest crash yet, oil now green as USO powers back through $15. Makes it clear the dips in oil should be bought now.
Yep!
ZH bottom-ticking once again! Oil now green for the day and climbing.
Seems to me Oct crude has rallied about 25% off of last Wednesday's US close. Is that crashing? What am I missing? God you people make me feel so dumb!!
Oops Upside da Head