Thursday, February 24, 2011

Algos Go Wild - Oil Drops $4 in Just over an Hour, S&P Rockets up 15

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Quite a reversal going on; the S&P 500 certainly broke 1300, down to 1294ish around 2 PM.   Then oil which was hovering near $100 all day, began dropping like a rock and gave back some $4+... with it almost step by step the S&P 500 ran up in a straight line.  Amazing how all these HAL9000 algos connect and move in concert.  We are but gnats on elephants HAL's behind.

Intraday move of S&P 500 - zoom zoom.


Here is the closest instrument I could find to represent what happened in oil intraday - breathtaking drop.


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