Pitscum said:
They get gamed bigtime at the front by the guys playing leveraged swap games in the otc market, so can appear to diverge from fundamentals. Also heard a big producer hedge deal went down last Thursday, this is supporting the z6/z7 and has pressured the z5/z6. This should revert as the hedges get sorted out into the right place.
cheers for that jimbo.....followed the wave yesterday and it paid off altho didnt have a scooby who was whacking her!!! taking a day off today to relax!!!! trouble is, feel the spds have further to go....dec wti/brent arb widening again this morning like it has legs of butter!!
Pitscum said:
The arb may widen further- saudi sending very little west in nov and dec looking at shipping fixtures (only 2 vlccs in nov and none booked so far in dec) as ships backed up in the US gulf, should pull ti a little I think relative to brent. Crude is a tough call right here - fundamentals point to much lower flat price, but too much money vested at the front on the long side to let it go easily I suspect
Directional
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yeah, it was a joke. Brent and Gas Oil futures trading down for about an hour and nat gas, emissions and electricity futures closed for the rest of the session. What a total joke.
Their matching engine has been creaking at the seams for ages - hope there are plenty of red faces at IPE today, they've been farting money away at their exchange systems for ages, and it just gets worse not better!
A good example of how NOT to go about making your market an electronic one.
Their matching engine has been creaking at the seams for ages - hope there are plenty of red faces at IPE today, they've been farting money away at their exchange systems for ages, and it just gets worse not better!
A good example of how NOT to go about making your market an electronic one.
Directional
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what made yesterday worse was that it was the last day before expiry - I wouldnt like to have been long or short any deliverable contracts while IPE farted around with a closed market on contracts I couldnt cover!
A great prelude to their IPO flotation today - seems like their stock trading is doing a bit better than their matching engine however - hope someone was long!
A great prelude to their IPO flotation today - seems like their stock trading is doing a bit better than their matching engine however - hope someone was long!
