Tyler Durden's picture

Having dropped on a surge in crude production and surprise inventory build, the machines decided it was the perfect time to panic-bid WTI futures (on the back of reports that some Gulf of Mexico production was shut in due to an outage at Shell’s Enchilada platform), running stops from the last two days...


Then once that ammunition was exhausted, WTI collapsed back to the lows of the day...



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Kido's picture

Look at US Indices too, tax reform headlines coming out but just panic bid the entire session

RockRiver's picture

Please define panic bid

Bay of Pigs's picture

Fake everything.

Is it Happy Hour yet? I’m gettin thirsty.

shamus001's picture

Hey bud! Miss posten with ya! See ya here and there on Zero.... hope things goin good 4ya!

vealparm's picture

Be careful.....the beer and whiskey you're drinking at happy hour might also be fake.

TRM's picture

It's 5 o'clock somewhere!!!

Tiwin's picture

You lays your money down , and you takes your chances!

What does Gartman think?

LoneStarHog's picture

Gartman "think"?...BWHAHAHAHAHAHAHAHAH...You crack me up.

syzygysus's picture

HAHAH, that first chart is awesome, I like how the circles makes it look like a loop de loop....


I'm easily amused by the algo rigging.  I'd be crying if I wasn't laughing.

ynzrpowr's picture

What a bunch of BS. Thanks Obama.

syzygysus's picture

It's good when you can leave office and the general public (at least on the left) thinks you did a great job.


But what you really did was take a hot steaming dump in the elevator and run out before the door closed.

any_mouse's picture

You are giving the Magic Negro puppet too much credit.

Like the Shrub before him, a puppet controlled by the puppet masters.

But MAGA Trump is his own man, who went around the Established Order to get into the White House to save the forgotten People.

No coincidence that "Chaos" is Secretary of Defense.

TheLastTrump's picture

WTF-WTI....a new ETF? Sign me up!

medium giraffe's picture

oh look, another crime scene

resistedliving's picture

07:30-10:00 matches my heart chart

NoWayJose's picture

Lots of hot money poured into oil and oil services after the weekend Saudi purge headlines. Big up move on Monday. Things were pretty flat Tuesday and nothing special at the Wednesday open. So how does hot money exit a position? Run some stops, try to ignite algo-driven momentum, and flip from long to short. The oil run up is over unless we get explosions in Riyadh.

blueskyranch's picture maybe gas prices will deflate to 'normal' levels.

Magooo's picture


According to the OECD Economics Department and the International Monetary Fund Research Department, a sustained $10 per barrel increase in oil prices from $25 to $35 would result in the OECD as a whole losing 0.4% of GDP in the first and second years of higher prices.




Steven Kopits from Douglas-Westwood said the productivity of new capital spending has fallen by a factor of five since 2000. “The vast majority of public oil and gas companies require oil prices of over $100 to achieve positive free cash flow under current capex and dividend programmes. Nearly half of the industry needs more than $120,” he said



THE PERFECT STORM (see p. 58 onwards)


The economy is a surplus energy equation, not a monetary one, and growth in output (and in the global population) since the Industrial Revolution has resulted from the harnessing of ever-greater quantities of energy. But the critical relationship between energy production and the energy cost of extraction is now deteriorating so rapidly that the economy as we have known it for more than two centuries is beginning to unravel.