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Crude Complex Market Halted - Update: Market To Reopen At 3:15pm With 15 Minute Preopen

Tyler Durden's picture


Update 3: Market reopens - "perfectly normal market"

Update 2: "CME Globex Crude Complex Futures and Options markets will open at 14:15 Central Time with a 15 minute pre-open"

Update from CME: "The following actions will be taken on CME Globex Crude Complex Futures and Options markets prior to the market opening: All day and session orders, including GTDs with today's date will be cancelled. All GTCs that have been acknowledged will remain working."

Something odd is going on in crude quotes which halted at 2:04pm, following what may have been an algo gone berserk in advance of what may or may not have been a block order. The feed has since stopped transmitting. The initial read is "technical difficulties" out of the CME Globex crude exchange. Someone take quote stuffing a little too far today?

And this is what happened in USO just before the crash. Note the surge in volume:

And on the CME's website:

And upated CL March volume chart:

Update: $101

Translation: all your electronic barrels are belong to SkyNet.


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Mon, 02/13/2012 - 15:21 | 2154585 lolmao500
lolmao500's picture

Time to bomb Iran then!

Mon, 02/13/2012 - 15:25 | 2154609 dhussey
dhussey's picture

... scary thing is... you may be right

Mon, 02/13/2012 - 15:29 | 2154631 ShankyS
ShankyS's picture

Looks like the heartbeat of a healthy rhythmic market to me? What's the problem? <sarc>

Mon, 02/13/2012 - 15:36 | 2154686 Manthong
Mon, 02/13/2012 - 16:06 | 2154762 NewThor
NewThor's picture

I try not to pay attention. And! not Comment on ZEROHEDGE.

cuz when i do....

all my computers get Hacked.

and i lose a lot of screenwriting and video editing work.

and that sucks.

Mon, 02/13/2012 - 16:09 | 2154829 NewThor
NewThor's picture

Seriously. I've had my Macs and PC's hacked and zero data'd several times.

I've had all my email accounts hacked in seconds, including twitter, facebook and yahoo.

Why am I the fucking bad guy in this scenario?

I've been on the Anti-Bernanke bandwagon since 2007.

I wish we had a real Fight Club here at Zerohedge.

"You'll never knock me down, Ray."


Mon, 02/13/2012 - 16:14 | 2154861 NewThor
NewThor's picture

Funny story.

Last time I was at the APPLE store to get my Mac fixed cuz of hacker dudes....

the Apple guy gave me the line that "Macs can't be hacked."

I pulled up the front page of Zerohedge that showed Anonymous had hacked the Interpol and CIA 'anti-hacker' phonecall and posted it online.

I asked the guy, "So if Anonymous wanted to hack a Mac, he couldn't do it?"

Apple guy "He probably could, but he wouldn't hack you."

Me. "So Macs can't be hacked?"
Apple guy "That's right. Macs can't be hacked."

Mon, 02/13/2012 - 17:22 | 2155166 JohnG
JohnG's picture

That's bullshit I can hack a Mac in less than 10 minutes.  It's so easy it's a joke.  You can be root in 5 minutes.  5 minutes later, you're done.

Mon, 02/13/2012 - 17:42 | 2155263 NewThor
NewThor's picture

My question is "Could you track my hacker?"

If I could find out who it is, I could send Batman or Wolverine pay them a visit.

They're owned my ROOT for awhile, and no root kit in the world gets them out or keeps them out.

Mon, 02/13/2012 - 20:49 | 2155951 sgt_doom
sgt_doom's picture

"..I could send Batman or Wolverine pay them a visit."

Dude, Bruce Wayne is a bankster, and that Wayne Foundation of his is where he hides his wealth and further ownerhip of even more stocks, bonds and companies.

Focus, big guy, focus!

Mon, 02/13/2012 - 23:39 | 2156351 foofoojin
foofoojin's picture

You didn't read the fine print.

 A Mac can't me hacked, unless connected to the Internet. :)

Mon, 02/13/2012 - 16:20 | 2154899 smiler03
smiler03's picture

People who've had their computers hacked = terrorist.

Mon, 02/13/2012 - 16:25 | 2154923 NewThor
NewThor's picture

Under NDAA, anyone who speaks out against the status quo of government and economics could be considered a TERRORIST.

Don't like Bernanke, Geithner or Obama's way things are run?

Time for the new game show "Black Bag Zip Tie Fun!" with your host, Big Nugget.

Mon, 02/13/2012 - 17:22 | 2155163 ilion
ilion's picture

What are you guys so surprised of? This is a perfectly efficient market, at least Bernanke thinks so.

Mon, 02/13/2012 - 17:49 | 2155303 Cathartes Aura
Cathartes Aura's picture


I've had all my email accounts hacked in seconds, including twitter, facebook and yahoo.

you have accounts with these entities, but you think ZH is responsible for you being hacked?


Mon, 02/13/2012 - 16:11 | 2154846 tekhneek
tekhneek's picture

I try not to pay attention. And! not Comment on ZEROHEDGE.

cuz when i do....

all my computers get Hacked.

and i lose a lot of screenwriting and video editing work.

and that sucks.

This sounds a lot like problems anyone who uses any version of Windows experiences. Throw your P(iece of)C(rap) out the window and go get a Mac or use Linux.

Mon, 02/13/2012 - 16:18 | 2154889 NewThor
NewThor's picture

The hacking started on my Macbook Pro.

I'm a Final Cut Pro addict, don't like Avid or Premiere.

There have been security issues on the Mac with Icalender, Itunes, Isynch...etc.

I'd like to buy a NEW macbook pro, but if they can continually synch my global prefs, then what's the fuggin' use?


Mon, 02/13/2012 - 16:27 | 2154933 Kassandra
Kassandra's picture

Get Bitdefender.

Mon, 02/13/2012 - 17:17 | 2155140 SAT 800
SAT 800's picture

No, you would not like to get a NEW macbook pro; what you would like to do is download Linux Mint operating system onto to your PC notebook; and erase everything on there made by MicroSoft. Then the world becomes peaceful and productive.

Mon, 02/13/2012 - 16:38 | 2154975 trav7777
trav7777's picture

Macs suck shit.

The only reason people don't hack them is because nobody uses them

Mon, 02/13/2012 - 16:44 | 2154995 CvlDobd
CvlDobd's picture

I hear the iTerminal is coming and Bloomberg is fucked!


Mon, 02/13/2012 - 17:17 | 2155142 SAT 800
SAT 800's picture

That's about it alright.

Mon, 02/13/2012 - 18:27 | 2155432 Vagabond
Vagabond's picture

Yeah... nobody except 70% of the sheep entering college.  And many more of the bourgeoisie that keep up with the Jones'.

Mon, 02/13/2012 - 16:51 | 2155027 Atomizer
Atomizer's picture

You might want to uninstall the europe firewall from your computer system.

Mon, 02/13/2012 - 16:58 | 2155058 Gazooks
Gazooks's picture

You're a very bad man.

Mon, 02/13/2012 - 15:43 | 2154721 AgShaman
AgShaman's picture

I saw a Cat.....and then I saw another cat that looked just like it?

Must be a glitch or somethin'

Mon, 02/13/2012 - 15:59 | 2154754 knukles
knukles's picture

Wasn't that Heisinberg's Lost Pet "Sorry Officer, but I'm uncertain where my fucking cat is." principle or Schrodinger's "It's sure as hell's not alive anymore, dude." roadkill hypothesis? 
Or maybe an upcoming mysterious budget that'll never get passed.

Reminder to readers of an official nature (as in official readers); It's not the fucking financials, it's the politicians dicking around that are getting us (as in US, too) downgraded.

Well of course stocks should be going up, Knukles.  What do you expect?  Reality?

Mon, 02/13/2012 - 17:06 | 2155097 DeadFred
DeadFred's picture

You may be a science geek if the SPCA is after you because you tried the Schrodinger's cat experiment.

Mon, 02/13/2012 - 15:54 | 2154769 aerojet
aerojet's picture

A glitch in the Matrix, sure.

Mon, 02/13/2012 - 16:11 | 2154848 boattrash
boattrash's picture

'Twas just that "Fat Fingered" bastard again. Nothin to see here.

Mon, 02/13/2012 - 16:08 | 2154822 Gringo Viejo
Gringo Viejo's picture

I've always enjoyed the term "Technical Issues". Covers a lot of ground without saying shit.

Mon, 02/13/2012 - 15:29 | 2154639 AL_SWEARENGEN

Yeah seriously,, Iran hasn't closed the strait of hormuz so the CME Cocksuckers are doing their part to further the cause of fraud and war. 

Mon, 02/13/2012 - 15:33 | 2154660 eatthebanksters
eatthebanksters's picture

methinks the CME got advance word on something and closed it down as a precautionary move...we'll know soon enough whether its for real or just another bluff...

Mon, 02/13/2012 - 16:02 | 2154791 knukles
knukles's picture

in your best John Wayne voice:

Maybe they're really bluffing

Mon, 02/13/2012 - 16:26 | 2154924 The Shootist
The Shootist's picture

but, Pilgrim, you caused a lot of trouble this morning; might have got somebody killed; and somebody oughta belt you in the mouth. But I won't. I won't. The hell I won't!"

Mon, 02/13/2012 - 15:34 | 2154675 Ruffcut
Ruffcut's picture

I was going to say I saw it live or dead for 20 minutes. Options stayed constant so nothing was fishy there.

SOme fat ass tripped and pulled out a plug, somewhere. Glad I did not have a trade on and watch it lock and what if you are on the wrong side? FUCK!!! this shit makes a traders heart fall right thru thier ass.

Mon, 02/13/2012 - 15:51 | 2154755 Doña K
Doña K's picture

Why do people still trade after MF Global? You get better odds in Vegas

Mon, 02/13/2012 - 18:12 | 2155391 Cathartes Aura
Cathartes Aura's picture

why do ppl still vote after Dubya & O'bamalama?

old habits die hard.

Mon, 02/13/2012 - 15:45 | 2154732 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Stuxnet was served across the court and thwap!

A return volley by ... Ayatollahnet !

Mon, 02/13/2012 - 15:46 | 2154733 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

dupe ...

Mon, 02/13/2012 - 17:27 | 2155181 Cadavre
Cadavre's picture

Time to bomb, indeed!

I'm sure the USO chart is not, in fact a record of the USO tick, but and instead, an aurel histograram reorded from the last 8 bars of Iron Maiden's Montsegur, being played backwards!

Mon, 02/13/2012 - 18:06 | 2155365 combatsnoopy
combatsnoopy's picture

I wonder if the oil companies are hedging to keep their costs lower?  I hope they are.  

Mon, 02/13/2012 - 15:21 | 2154586 Fidel Sarcastro
Fidel Sarcastro's picture

Business as usual....carry on.

Mon, 02/13/2012 - 15:22 | 2154587 GeneMarchbanks
GeneMarchbanks's picture

Good place to get stuck. Price fluctuations will resume post liberation.

Mon, 02/13/2012 - 15:22 | 2154592 Sylvia Plath
Sylvia Plath's picture

Not quote stuffing... it's a algo trying to break the book open before close.


The algo is playing both sides, and orders being filled.... 


We shale see!

Mon, 02/13/2012 - 15:26 | 2154613 dhussey
dhussey's picture

thats not exactly out of the ordinary... thats HFT 101... buy bid, sell the ask... a trillion times over... and thats it

Mon, 02/13/2012 - 15:26 | 2154614 GeneMarchbanks
GeneMarchbanks's picture

Any-non-moose. Expect them.

Mon, 02/13/2012 - 18:19 | 2155419 Cadavre
Cadavre's picture

The algo is playing both sides, and orders being filled....

Wondering if there's a "tell" or "tell of the tail" when algo's are trapped on both sides of the trade, both the party and the counter party, In equities there appear to be an event where the vix and the 21 HV print correspond within a penny for a few days - or weeks. A few months and repeats later the sell off. It's like HFT's book is VAr neutral and asset prices trade as though "they" underly the derivative contracts like both buyer and seller and 100% self insured - where's the money in that? Perhaps some kind of provincial banker oneupmanship frat game?

When there is no price action in the asset, our very famous, lonely and remembering daze gone by when they chummed to hook retail traders, yet still, very sociable  HFT algos' will always find a party someplace else - even if the asset has no alternative except as an upmarket float carried by it's very own options!

How noble! How noble, indeed!

We're not going to war with Iran - Israel would be a smudge in minutes - we get cut off from global markets - the commons is ready to gut the suits -  Black Water Mercs and VIP body gards don't like being paid with toilet paper no more than the 300 Million ants maintaining the hive's infrastructure do.

The fog and posturing is ruse, an opiate, to calm and relieve the herd when another glorious coalition of genocide only invades Egypt. They want Egypt. They want Africa.


Shit - they already got us!

Mon, 02/13/2012 - 15:23 | 2154593 lizzy36
lizzy36's picture

Everyone being told technical issues at Nymex. 


Mon, 02/13/2012 - 15:24 | 2154601 Ahmeexnal
Ahmeexnal's picture

technical issues == NATO forces bankrupt and can't "liberate" iRan and Syria

Mon, 02/13/2012 - 15:26 | 2154619 dhussey
dhussey's picture

Too many bullets un fired to be bankrupt just yet ;)

Mon, 02/13/2012 - 15:24 | 2154598 Fix It Again Timmy
Fix It Again Timmy's picture

NO, no - not this Monday, you idiot - Next Monday!  Somebody got their wires crossed....

Mon, 02/13/2012 - 15:25 | 2154599 HamyWanger
HamyWanger's picture

The Peak Oil sect will be there in a minute to interpret this as a sign of a coming apocalypse in crude. They are so predictable. 

Mon, 02/13/2012 - 15:28 | 2154632 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The "unicorn piss will save us" brigade will be here in a minute to interpret this as a sign of a coming messiah from the Elvin Kingdon Mithrandier.

Mon, 02/13/2012 - 15:31 | 2154645 tmosley
tmosley's picture

I see the "there is no such thing as technological or scientific advance" brigade is already here.

Mon, 02/13/2012 - 16:45 | 2155001 trav7777
trav7777's picture

there sure are technological advances; they helped us suck the oil out faster and deplete quicker.


Mon, 02/13/2012 - 19:13 | 2155636 Cadavre
Cadavre's picture

Not a good time to be long oil - even with the fed's "plan" to devalue the USD 33% in next couple of years. refined and bulk demand is dropping like the book P/L of an overly zealous "peak oil" fanatic's too heavy to long oil positions.

They snagged you man - snagged you good, This always happens before the "big" haircut - most know that by now.

Peak Oil is a scam - like war - not because of it's limitations  as a resource, but because of it's real term price limitations  - we're in, we've been in, an oil glut for more than 20 years - peak oil is a story boiler room pitchmen use to bait the fearful with offers of a replacement faith, the belief in "Peak Oil". Bet on the insurance GS wrote and not the investments they placed [and] then subsequently, coincidentally, insured.

One can deny reality, but one cannot deny its consequences.

Mon, 02/13/2012 - 15:42 | 2154716 Calculated_Risk
Calculated_Risk's picture

WHOA!!!! So your sayIng unicorns do exist?!

Mon, 02/13/2012 - 15:45 | 2154731 tmosley
tmosley's picture

Pretty much.  Show him evidence of alternative fuels and energy sources, and he calls them "unicorn piss".

It's pretty pathetic, actually.  It's too bad he chooses to continue his pointless pressing of this idiocy.  There is no reason behind it.  Only pride.

Mon, 02/13/2012 - 16:04 | 2154803 knukles
knukles's picture

We've already reached peak unicorn piss.

Where's the Messiah when we need him? 

Mon, 02/13/2012 - 21:56 | 2156131 Archon7
Archon7's picture

Well, then maybe it's time we started tapping unicorn shit?

Mon, 02/13/2012 - 16:46 | 2155003 trav7777
trav7777's picture

alternative fuels...HAHAHAHAHAHAHA.  Like what?

An alternative to what, oil?  Or unicorn piss.  there IS NO alternative for oil.

Mon, 02/13/2012 - 17:26 | 2155184 I only kill chi...
I only kill chickens and wheat's picture

Yak Shit to you, Yak dung to everyone else.

Mon, 02/13/2012 - 18:59 | 2155553 Babushka
Babushka's picture

Who needs oil?

just a couple thigs made out of it: gasoline, diesel, propane, asphalt, bitumen, tar ,polyester, nylon,petroleum jelly, ammonia,Ethane, Fuel oils * Petrol * Jet fuel * Kerosene * Liquid petroleum gas (LPG) Alkenes (olefins) which can be manufactured into plastics or other compounds * Lubricants (produces light machine oils, motor oils, and greases, adding viscosity stabilizers as required).  Wax, Sulfur or Sulfuric acid. Bulk tar. Petroleum coke, Paraffin wax,Aromatic petrochemicals.

We can easly replase it all with a solar battery or wind turbines. ;)

Mon, 02/13/2012 - 15:32 | 2154656 Global Hunter
Global Hunter's picture

this is about a market breakdown, peak oil is kinda off topic don't ya think?

Mon, 02/13/2012 - 15:33 | 2154661 rosex229
rosex229's picture

this is clearly a sign that the peak oil apocalypse is upon us... Oh wait... this is an utterly pointless event that will have no effect on anything anywhere.

the irony is the fact that I'm taking the time to comment on this completely useless piece of information.

Mon, 02/13/2012 - 15:35 | 2154682 Tsar Pointless
Tsar Pointless's picture

You rang?

Yes, it's pointless. All of it is.

Useless, yes, but primarily pointless.

Mon, 02/13/2012 - 15:37 | 2154692 blu
blu's picture

It's another open-thread. Go nutz.

Did you hear the one about the baby Harp seal that walked into a club?

Mon, 02/13/2012 - 15:52 | 2154756 engineertheeconomy
engineertheeconomy's picture

Nothing to see here, keep moving folks

Mon, 02/13/2012 - 16:10 | 2154836 Theosebes Goodfellow
Theosebes Goodfellow's picture

Yup, but the second one should have seen it coming....

Mon, 02/13/2012 - 15:34 | 2154674 SheepDog-One
SheepDog-One's picture

Right Hammy, oil is SO easily obtained and plentiful, thats why we're on a Hitlerian march across the world to topple govt's and steal as much oil as they can.

Mon, 02/13/2012 - 15:47 | 2154713 HamyWanger
HamyWanger's picture

"Physical peak oil, which I have no reason to accept as a valid statement either on theoretical, scientific or ideological grounds, would be insensitive to prices. (...)In fact the whole hypothesis of peak oil – which is that there is a certain amount of oil in the ground, consumed at a certain rate, and then it's finished – does not react to anything....  Peak oil has been predicted for 150 years. It has never happened, and it will stay this way." Dr. Christoph Rühl, chief economist of BP

Mon, 02/13/2012 - 15:48 | 2154741 rosex229
rosex229's picture

Haha wow that guy really said that?! Yes Mr. BP Man supply has absolutely no effect on price in economic theory.

Mon, 02/13/2012 - 16:14 | 2154781 HamyWanger
HamyWanger's picture

That's exactly what the Peak Oil movement is, in an inverted manner. Instead of wishing modern technology's appearance, they wish it to disappear. In both cases they don't understand it, in both cases they are afraid of it, and in both cases they have recourse to incantations.

Mon, 02/13/2012 - 16:55 | 2155044 SheepDog-One
SheepDog-One's picture

Hamy youre slipping out of role, getting all politicaly charged and whatnot....bad troll, BAD!

Mon, 02/13/2012 - 17:11 | 2155101 rosex229
rosex229's picture

There are many shades to the so called "peak oil movement," and you're right. some of them are doomers who if they weren't dooming about peak oil they'd doom about something else, but many are pragmatic, rational thinkers who have looked at the numbers and can see that the world has a looming energy crisis.

Haha I mean come on we just experienced the highest january gas prices in history. remember the 1970s oil shocks that caused two severe recessions in the developed world? the price you're paying at the pump at this very moment is higher, in real terms, than what you paid in the 1970s. just wait for the joy you'll have at the pump come April. oh, but I forgot, we're not in an oil shock.

Mon, 02/13/2012 - 20:42 | 2155930 Moe Howard
Moe Howard's picture

Gasoline is 15 cents a gallon based on 90% junk silver face value. It has never been cheaper as far as I know. The FRN, however, is busy being debased, if you base your calculations on something created out of thin air.

Mon, 02/13/2012 - 15:49 | 2154749 Piranhanoia
Piranhanoia's picture

Ham, please, eat yourself. You will get plenty of animal fat and a blowjob at the same time.  If you chew long enough, we won't have old hamy to save as leftovers for the family dog.

Mon, 02/13/2012 - 15:54 | 2154765 engineertheeconomy
engineertheeconomy's picture

Hamywanger you can blow me too while you're down there...

Mon, 02/13/2012 - 16:48 | 2155012 trav7777
trav7777's picture

what a motherfuckin moron...yeah, Ruhl too.

Peak oil was predicted in the 1950s.  Then it happened.

In fact, it has happened to 54/65 of the top oil-producing nations.

I have no clue why a fucking economist should even think themselves qualified to SPEAK.

Mon, 02/13/2012 - 17:00 | 2155066 css1971
css1971's picture


It already happened in 1971 in the USA. Oil production peaked, then started declining, and kept on declining. Till today production is about 50% of peak output.

Why do you think the US had to quit Vietnam, come off the gold standard and stop sending people to the moon? You had to start buying energy just like everyone else.


Mon, 02/13/2012 - 15:34 | 2154678 resurger
resurger's picture

Hamy I swear to god i have never read your post! I SWEAR!!


Mon, 02/13/2012 - 15:49 | 2154746 Ruffcut
Ruffcut's picture

Darn it all, hamypajamy.  Bullshit once came natural to you. NOw, you are sad and pathetic. You are not even worth junking anymore. 

You are way beyond your mental peak.  You lost your edge when your mother shut off and your brother's Robo's , internet.  How's it at the library these days?

Mon, 02/13/2012 - 16:19 | 2154893 boattrash
boattrash's picture


They might decide to render and burn your lard-ass if you let out the news.

Mon, 02/13/2012 - 16:53 | 2155035 css1971
css1971's picture

It has occurred to some that when the food supplies start to falter, there are in fact a lot of calories just walking around the city streets.

Mon, 02/13/2012 - 15:24 | 2154603 William113
William113's picture

Obama was to busy putting out his budget and forgot to do some insider trading. So CME is helping out.

Mon, 02/13/2012 - 15:25 | 2154607 TraderTimm
TraderTimm's picture

Better get someone over to 350 E. Cermak to kick the HFT racks!

Probably some poor schlub tripped over a badly-laid fiber connection.

Mon, 02/13/2012 - 15:25 | 2154610 yogibear
yogibear's picture

Just before a rocket ride up. The word is getting out.

Mon, 02/13/2012 - 15:25 | 2154612 Everybodys All ...
Everybodys All American's picture

When a broken market is "fixed" this is how it trades.

Mon, 02/13/2012 - 15:26 | 2154615 WALLST8MY8BALL
WALLST8MY8BALL's picture

Wonder if they put in testing orders into the live market, again?

Mon, 02/13/2012 - 15:27 | 2154616 ShankyS
ShankyS's picture

A little tweeking and the symmetry of that algo could be perfected, but then we'd all see what's happening. Better leave it like it is where no one will recognize it. 

Mon, 02/13/2012 - 15:27 | 2154624 hankwil74
hankwil74's picture

Electronic trading of crude oil removes all reality.  It's not crude oil, it's just numbers on a screen.

Mon, 02/13/2012 - 15:52 | 2154760 GeneMarchbanks
GeneMarchbanks's picture

'Electronic trading of crude oil removes all reality.'

Whereas other electronic trading accentuates reality?

Mon, 02/13/2012 - 16:23 | 2154915 Schmuck Raker
Schmuck Raker's picture

I think a better word is embellish.

Mon, 02/13/2012 - 19:51 | 2155769 Jim in MN
Jim in MN's picture





Mon, 02/13/2012 - 15:27 | 2154628 MrBoompi
MrBoompi's picture

What's the problem?  Was somebody important about to lose some money today?

Mon, 02/13/2012 - 16:22 | 2154907 scatterbrains
scatterbrains's picture

I think JPM needed a time out from trying to keep prices contained.

Mon, 02/13/2012 - 15:28 | 2154630 LongSoupLine
LongSoupLine's picture



Just a bit of HFT algo indigestion is all.  Similar to sitting down to a huge feast and you're the only one at the table.

Mon, 02/13/2012 - 15:29 | 2154633 SunBlaster
SunBlaster's picture

Proceed with Iran's beating when the feed stops transmitting!

Mon, 02/13/2012 - 15:29 | 2154635 lolmao500
lolmao500's picture

China ftw... I think they just gave Obama a new idea...

China tells banks to roll over local govt loans: report

China has told its banks to start a huge roll-over of loans to local governments, the Financial Times reported, aiming to give itself more time to deal with a $1.7 trillion debt hangover from the global financial crisis.

Mon, 02/13/2012 - 15:37 | 2154691 GeneMarchbanks
GeneMarchbanks's picture

From the piece:

' "This is bad regulation but I don't think we are going to get a bank crisis," said a bank analyst in Hong Kong.'

That is reassuring.

Mon, 02/13/2012 - 15:59 | 2154784 lolmao500
lolmao500's picture

By denying, they are confirming.

Mon, 02/13/2012 - 15:29 | 2154637 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Fat Finger Timmy needs to stop eating hamburgers while he trades.  One thing at a time, Tim!

Mon, 02/13/2012 - 15:32 | 2154638 SheepDog-One
SheepDog-One's picture

HIGHLY bullish ladies and gents! You realize at this rate we only have 10-15 more trading days until we're above all-time previous record bubble top market highs! 

Its a motherfukin PARTAY!

Mon, 02/13/2012 - 15:33 | 2154669 resurger
resurger's picture

PARTAY Foo Evaaa!

Are we through with dividends or not yet? 

Mon, 02/13/2012 - 15:30 | 2154643 AllAboutTheBenjamins
AllAboutTheBenjamins's picture

how rude of the crude



Mon, 02/13/2012 - 15:30 | 2154644 Global Hunter
Global Hunter's picture

When I was a kid I learned from my father to bang on the top of the television with the palm of my hand with my fingers extended when the reception went fuzzy, have they tried that?

Or they can try a reboot and the problem will be solved.

Mon, 02/13/2012 - 15:32 | 2154657 blu
blu's picture

I always tell them to hit the Any key. Works a treat.

Mon, 02/13/2012 - 15:35 | 2154680 Global Hunter
Global Hunter's picture

I haven't heard that one!!!! lol

Mon, 02/13/2012 - 16:53 | 2155039 DosZap
DosZap's picture

Is Israel attacking Iran NOW?

It's just a matter of days...................Never again another Holocaust, the dwarf with the HUGE piehole has guaranteed it.

GO LONG, Izzy nails IRAN.

Time to GO REAL Long on crude..

Mon, 02/13/2012 - 15:35 | 2154685 Gully Foyle
Gully Foyle's picture

Global Hunter

"When I was a kid I learned from my father to bang on the top of the television with the palm of my hand with my fingers extended when the reception went fuzzy"

What are you French? We Americans used the much more effective closed fist alternated with a swift kick. For it to truly work you must shout as loudly as possible" COME ON YOU COCKSUCKER WORK!".

Mon, 02/13/2012 - 15:42 | 2154715 Global Hunter
Global Hunter's picture

Canadian but born in England so I do appreciate mocking the French.  On a more serious note the French speaking people in Ontario that I've met are the salt of the earth.

Mon, 02/13/2012 - 16:11 | 2154839 kridkrid
kridkrid's picture

They should have said Oui when the had a chance.  I think about that vote from time to time.  The doom and gloom predicted had Canada broken up and the reality that things would have been just fine.  That's where we are all heading eventually.

Mon, 02/13/2012 - 16:17 | 2154883 Global Hunter
Global Hunter's picture

je ne peux pas agree more even is its "unpatriotic" of me to say so.

Mon, 02/13/2012 - 16:21 | 2154906 kridkrid
kridkrid's picture

"Patriotism" is almost always a scam. It's the excuse provided to people so that they will act against their best interests (both individually and collectively).  It's a bludgeon.

Mon, 02/13/2012 - 16:23 | 2154913 Diogenes
Diogenes's picture

When they held the referendum they should have let all Canadians vote, as separatism affects all Canadians.

If they ever do that I predict Quebec votes to stay in Confederation and the rest of the country votes to boot them out.

Mon, 02/13/2012 - 18:44 | 2155493 Maxter
Maxter's picture

Last I heard they didn't plan to have any military. Avoiding an Iran war and possibly WW3 make me think it would have been a good idea too be booted our of Canada.

Mon, 02/13/2012 - 16:28 | 2154940 Ceteris paribus
Ceteris paribus's picture

You are just saying that because they don't like you because you are not french.
I have been to Ontario , great place one problem it's full of French

Mon, 02/13/2012 - 16:17 | 2154878's picture

A threat of a cycle in the dishwasher always works for me.

Mon, 02/13/2012 - 15:30 | 2154648 Dr. Kananga
Dr. Kananga's picture

I've seen that wave form before... back in the 1970s, working on the Forbin Project. ... Colossus has returned.

Mon, 02/13/2012 - 15:33 | 2154664 lolmao500
lolmao500's picture

That movie was meh.

Mon, 02/13/2012 - 15:44 | 2154727 engineertheeconomy
engineertheeconomy's picture

Anyone that uses the words; government, gold or "rigged market" should be turned in to homeland security immediately

Mon, 02/13/2012 - 16:56 | 2155047 smiler03
smiler03's picture

I've seen that shape before too, a saw :O)

Mon, 02/13/2012 - 15:34 | 2154676 Global Hunter
Global Hunter's picture

You gave me a new reference to look up cheers. 

Mon, 02/13/2012 - 16:14 | 2154860 kridkrid
kridkrid's picture


Imagine Entertainment and Universal Studios confirmed that a remake titled Colossus, to be directed by Ron Howard, would be in production as of April 2007,[5] but was delayed for years. In October 2010, the project moved forward with the announcement that Will Smith will star in the lead role, with the script being written by James Rothenberg.[6] In July 2011, Variety reported that Universal replaced Rothenberg with Blake Masters of Law & Order: LA to do a new draft of the script

Mon, 02/13/2012 - 15:37 | 2154690 Alea Iactaest
Alea Iactaest's picture

Colussus = Skynet. Anyone seen HAL 9000 around here?

Mon, 02/13/2012 - 15:43 | 2154720 Dr. Kananga
Dr. Kananga's picture

Who do you think runs GS?

Mon, 02/13/2012 - 16:01 | 2154789 Falcon15
Falcon15's picture

I'm sorry, Dave. I can not allow you to do that.

Mon, 02/13/2012 - 15:52 | 2154759 mick_richfield
mick_richfield's picture


Mon, 02/13/2012 - 22:09 | 2156156 Archon7
Archon7's picture

Heh, you all laugh, bu t they've already made hybrid computer processors that use a combination of semiconductor and living brain cells.  The simple "robots" that they made with them learned to do things that wasn't in their programming.,2933,403744,00.html

Mon, 02/13/2012 - 15:31 | 2154652 blu
blu's picture

There is warfare in the server room. Digital weapons for virtual combat is the shape of things to come.

Mon, 02/13/2012 - 15:33 | 2154663 sabra1
sabra1's picture

everything goes in a corrupt market! like a sore loser who upsets the gameboard, and wants to start over!

Mon, 02/13/2012 - 15:34 | 2154671 alien-IQ
alien-IQ's picture

clearly this is bullish. after all...what isn't?

Mon, 02/13/2012 - 15:34 | 2154672 TradingJoe
TradingJoe's picture

Someone going short here, big time!

Mon, 02/13/2012 - 16:56 | 2155051 SheepDog-One
SheepDog-One's picture

Well whoever was going short there then just got kornholed, BIG TIME!

Mon, 02/13/2012 - 15:36 | 2154683 Mr_Wonderful
Mr_Wonderful's picture

Total liquid fuels were at all time highs in January, according to OPEC and the IEA. I think a 30% correction in crude would be very natural.

Mon, 02/13/2012 - 15:37 | 2154689 zerotohero
zerotohero's picture

Obummer is doing rock paper scissors with his joint chiefs of staff as we speak.

Mon, 02/13/2012 - 15:37 | 2154693 Mr_Wonderful
Mr_Wonderful's picture

Uhm, that would be January supply, to clarify.

Mon, 02/13/2012 - 15:38 | 2154700 Global Hunter
Global Hunter's picture

I recall about 10 years ago joining a mid sized indepedent brokerage trading desk and during my first week meeting with the Head of Compliance and him smirking and telling me that in 10 years all trading will be computerized and there will be no need for professional execution traders for equities anymore.  Being rather naive I immediately thought of a scenario like this where the whole thing shuts down if a computer breaks.

edit: I know this is crude and not equities but a market is a market...

Mon, 02/13/2012 - 15:39 | 2154703 sabra1
sabra1's picture

hopefully tommorow it'll be:

S&P 500 Market Halted
Mon, 02/13/2012 - 15:39 | 2154704 non_anon
non_anon's picture

We're Experiencing Technical Difficulties - Please Stand By

Mon, 02/13/2012 - 15:39 | 2154705 ThisIsBob
ThisIsBob's picture

Let all the machines blow up.  Make them trade under a Buttonwood tree.

Mon, 02/13/2012 - 15:48 | 2154742 HungrySeagull
HungrySeagull's picture


Grab a stack of Office Depot dry erase boards and round up the phones.

And get moving.

Mon, 02/13/2012 - 15:49 | 2154729 ziggy59
ziggy59's picture

Wow and France lifts ban on short selling of financials...

Mon, 02/13/2012 - 15:48 | 2154740 tallen
tallen's picture

Skynet is become self-aware.

Mon, 02/13/2012 - 15:50 | 2154753 Manthong
Manthong's picture

It just got to liking stroking itself a bit too much.

Maybe it found some computer porn.

Mon, 02/13/2012 - 15:49 | 2154743 Zero Govt
Zero Govt's picture

anyone with money in CME or on the Crimex is a nut job

..and deserves to lose their capital

You have been Warned

Heavy Metal sounds good (own it)

Mon, 02/13/2012 - 15:49 | 2154744 engineertheeconomy
engineertheeconomy's picture

What do you mean we're out of fucking oil ? But they would never lie to us...

Mon, 02/13/2012 - 15:49 | 2154745 Xibalba
Xibalba's picture

liquidity trumps solvency. 

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