CL Redux

Quote from Totalizator:

just a quick heads up to those of you trading nymex contracts.
The halt was due to RBOB.. unl;eaded gas contract being down limit. .. the rules state that if any.. yes ANY gas or energy product is down limit then the entire complex of energy futures and some options are also halted for 5 minutes.. so if ehtanol is down or up limit.. then crude will halt as well for 5 minutes.
I never knew about this rule and I got caught up in the Halt!
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Wow, thanks for that info! I wish I got caught up in the halt, would've had an extra point or so my trade.
 
Quote from Totalizator:

just a quick heads up to those of you trading nymex contracts.
The halt was due to RBOB.. unl;eaded gas contract being down limit. .. the rules state that if any.. yes ANY gas or energy product is down limit then the entire complex of energy futures and some options are also halted for 5 minutes.. so if ehtanol is down or up limit.. then crude will halt as well for 5 minutes.
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Piggybacking on Total's comment and from WSJ.com:

CME Group Inc. halted trading in crude oil, heating oil and gasoline futures for the first time in more than two years due to a trading limit, amid high price volatility in the energy markets.

A note from the exchange said gasoline contracts fell to their 25-cent daily price limit at 12:06 p.m. EDT Wednesday, triggering circuit breakers on CME's electronic Globex trading platform that resulted in a five-minute delay in trading for all three energy-futures contracts. Trading resumed at 12:11 p.m. EDT.

June reformulated gasoline blendstock, or RBOB, was recently down 26.09 cents, or 7.7%, to $3.1188 a gallon on the Nymex following the restart. Light, sweet crude for June delivery was down $3.76, or 3.6%, to $100.12 a barrel on the New York Mercantile Exchange.

Brent crude on the ICE futures exchange was down $3.54, or 3%, to $114.09 a barrel. Brent trading wasn't halted.

The exchange reopened the affected contracts with double the daily price limits. Price limits for crude oil moved to $20, heating oil to 50 cents and RBOB to 50 cents.
 
Placed a sell stop at .99 after breaking up 100.00, but pulled it seeing the rebound in commodities.

Thank you Totalizator and JohnBob
 
Quote from JohnBob:


The exchange reopened the affected contracts with double the daily price limits. Price limits for crude oil moved to $20, heating oil to 50 cents and RBOB to 50 cents.
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that doesn't sound good :(


next we'll hear Gaddafi is dead

Supporters worry about Gaddafi after bombing
3 hours ago
Muammar Gaddafi ... did not attend son's funeral. Photo: AP TRIPOLI: Questions are being asked across the Libyan capital about the leadership of Muammar ...
 
Quote from EON Kid:

that doesn't sound good :(
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Funny thing is that gasoline was supposed to be up big today due to the Mississippi floods affecting the refineries in the Gulf :D
 
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