Wow...I've never seen any futures trading instrument go NEGATIVE in its quotes. How's that possible ??? Why wouldn't it just say 0 (zero) instead of showing negative quotes ??? 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. I feel sorry for those that trade without using stops. wrbtrader
Well, The CME limit page shows limit down as being 1 penny. But a chart of it on the very same page shows it's true movement. My data feed shows some weird shit happening in the last few minutes before settlement. Something is definitely broken, somewhere. Before the close, the lowest price was showing 1 penny. The I saw the bid/ask shoot up to the 50s, and as per Ninja' printing, over 100 for a brief moment? Broken, broken, broken.
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. wrbtrader