prove you blew up your accound in CL today and Ill refund your loss!

We'll have $20 Oil tomorrow with the June contract.

In terms of the May contract meltdown - my GUESS is that some retail longs were autoliquidated by brokers. Commercials who were short and planning on making delivery offset some at ridiculous price levels. Just a guess but I think it's a good one.
 
Worth a picture I believe

97295B93-53BD-467D-BF11-3C612FA723E0.jpeg
 
wrbtrader said:
It hit -37 to -40 dollars today.

That would imply there is no bottom. Heck, it could hit -100 tomorrow, next week or next month.

Will Brokers even pay up for any one that Shorted Oil in the positive numbers and then cover in the negative numbers ???

I see a lot of lawsuits coming. :p

wrbtrader
More...

This is why I'm putting a limit order to cover June at 0.01. There's no telling what will happen if you cover in the negatives. The system might make an error and think you covered for a loss!
 
wrbtrader said:
Also, I thought Light Crude Oil had limit downs too. Brokers aren't doing margin calls today...instead...they'll be sending out arrest warrants.
More...

I don't think crude has limit downs. If it did, it surely would have hit it that day a month ago when it dropped from 40 to 27.
 
nillionaire said:
This is why I'm putting a limit order to cover June at 0.01. There's no telling what will happen if you cover in the negatives. The system might make an error and think you covered for a loss!
More...
you will probably cover at a massive loss and blow up your account

remember my prediction , dweeb
 
In contrast, Brent Oil futures behaved with a normal looking steep decline (no negative prices) of only down 2 - 3 points as if nothing was occurring in the Oil markets today.

Fascinating...gotta save charts of Light Crude Oil because 10 - 20 years from now...nobody is going to believe that Crude once traded negative prices. :D

wrbtrader
 
You must log in or register to reply here.
Back
Top