'Drunken' Broker Sent Oil to 8-Month High in 2009

Discussion in 'Chit Chat' started by OnClose, Sep 28, 2012.

  1. OnClose


  2. Manana1 on September 27 2012 said:

    He used half a billion in buying power during GLOBEX not RTH! and only moved it 2%. Hardly call that evidence of crude oil markets being easy to manipulate.

    Secondly 69 percent figure is misleading, what was the daily volume, I suspect 15-25 times (minimum) of his 7,000 contracts, the average volume per day is around 200,000 contracts, so his "volume" was only a few percent of what was traded that day.

    And lastly IF he had such a manipulative effect on Crude Oil, why did his firm lose roughly 10 million? Do the math he LOST roughly 1.40 per contract. So the market reversed the gain he had caused and went down an additional 1.40 in the span of a few hours.