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WTI Extends Crash To 10% After API Inventories Surge Most In 5 Months
After the worst day since last November's OPEC meeting, WTI crude is falling further tonight as API reported a huge 7.6 million barrel inventory build. This is the biggest build (compared to DOE data) since early April! WTI Crude is now down 9.85% on the day - that is a bigger drop (close to close) than the Nov OPEC meeting drop and is not matched back to 2008/9's collapse.
and the reaction is more selling in WTI...
Which is now down 10% on the day - a bigger move than the OPEC drop...
Charts: Bloomberg
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But CNBS said it's because stawks are down.
Stawks apparently can't fly... Unless of coarse, it's falling out of a 40 story building window...
Relax. It's just moar awesome green shoots sprouting up...signs of the robust rekovery MSM brags about every day.
so....crude rallied significantly yesterday, just before a data release of huge inventory build
jeez, the idea of insider trading is just so quaint, innit?
This past week in the oil markets is all the proof you need that nobody out there has a fucking clue what the hell is going on.
The time to panic is fast approaching.
WTF, WTI's crash could mean $2 a gallon gas across vast swathes of the American gulag by October. Time to call out Homeland Security's sexual degenerates, to staff roadside checkpoints across the country. And about time someone leaks Obama's transcript for Occidental College, where his less than stellar grades still got him into Columbia University, thanks to CIA intervention. Meanwhile, the rod of god squad is waiting for its next assignment, this time in the USA.
as the DeVotchKa song goes, "You already know how this will end..."
https://www.youtube.com/watch?v=Pfi1UQ_PKQI
30 handles coming soon to a market near you!
And gas will still be over $4 gallon here in CA. "Because eff you"
Because your politicians. It's closer to $2 where I'm at.
Sure, sure, let me guess, soon you will be able to take delivery for free!!!
What part of NO price discovery don't people understand?
The lefts anti Carbon plan is working....when we get back to the stoneage economy...we will have Obama, Blankfien, Clinton, gore, etc jetting around while you get to eat Solylent!
So I just bought a bunch of oil and coal stocks yesterday, already negative. Any ideas if oil is still going down? I actually believed the "bottom" was in. I hate you CNBC! It sounds like I got in too early. Got into everything that Buffet, Soros, and Icahn got into. Figured they might have known something! Not so sure anymore!!
SUNE
ACI
FCX
+ BTU
So far, everything tanked! -30% on ACI, Soros bought like 1 million shares. He's down considerably more then me!
Ever think Soros might have been short covering?
Just said he bought a million shares of ACI and BTU. Short covering is when your original position is short and you buy to close the position? I've only done options and just yesterday some stocks. So forgive my ignorance.
Goldman Sachs said on CNBC that oil had bottomed so don't you worry my friend and keep holding that bag.
There are ways to boost price. Funny some of these smaller OPEC countries have not figured it out. Nigeria kniew how and was always good for a short term boost 2-3 years ago. But they have been quiet lately.
If you bought crude oil you can always take delivery.
Just bought stocks, not commodities/futures contacts. Not the same, is it?
4xfool
I think we will see 30 before we see 50 in oil. FSX is not going anywhere fast . I got in FSX at 10, hard to catch a failing knife... because I like the company long term. Sure wish I bought in the 8s but it will bounce back.
My energy gurus can be found at https://www.energyandincomeadvisor.com. Their track record as advisors is among the best, particularly if you lean toward by & hold. Trying to follow the big dogs lead is silly, by the time they announce their holdings they already bought in cheap. There are bargains to be had, the trick is to avoid those which won't survive.
SUNE?
That oufit is a joke. Propped up by subsidies. The subsidies are going away.
Jeeze man. Once in a while check the FUNDAMENTALS.
You bought oil stocks after oil jumped 30% in three days on some rumors?
Icahn bought like 8% of the company. Figured there had to be something positive there. Plus who the hell believes the BS numbers?
Actually I think it was a different company or a different billionaire. Either way, I took a chance and rolled the dice...
...now down 10% on the day...
But wasn't rule 48 supposed to prevent anything greater than 2%?
Dude, you're still gonna have Cramer come out and console my peeps holding calpers and calstrs stuff aren't you? The folks able to speak "english" are still all off shore and we still don't want to stir anything up this close to the (s)election do we? Evidently my last email must've been either lost in translation or died on arrival to dear leader's previously's chosen personal successor.
Hey Yellen, where'er your buds in GSs' pocket?
GARTMIN is now bearsh stocks and oil...the bottom is in
the inventory move was unkown ?- millions of Bbl in one month - i dont buy it
The API and DOE inventory figures are obviously manipulated. Where can we find honest numbers ?
Someone really needed to get out of their positions in the last week "inventory build-up"! Anyone believe last weeks numbers were real or just bogus to let someone dispose of their positions in to the rally? I am pretty sure there are Libor equivalent scandals being perpetrated in every possible market on this planet.