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WTI Crude Crumbles To Test $44 Handle As Algos Run Stops, Read DOE Report
Having run the stops above Monday's panic-buying highs, algos appeared to recognize that oil production rose last week for the first time in 8 weeks (and the seasonals of inventory changes are about to turn unfavorable)... From a $47 peak post-DOE, WTI crude is back testing a $44 handle...
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A lot of money to be made in these volatile markets.
A lot of money to be lost in these volatile markets.
More about gambling than investing
Gartman went long Dec 50 calls about $46.75ish today?
By $44 Handle I assume you mean $45 .... the algos run this mkt too ... unfortunately
But no need to regulate the Algos ... let's just focus on climate change
Nothing catching a bid in any direction.
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Does anyone still use stops?
How quaint.
The insane volatility indicates the liquidity traders supposedly add to the process is an illusion. The upstream and downstream oil industry needs to find a way to replace the current system of traders, investment bankers, and exchanges determining oil prices by making casino bets with a better price discovery mechanism. Ultimate retail customers should benefit by removing the parasites and their out-sized piece of the pie from the process.
we still use oil?