Yeah I've been watching it. Pipeline down for a week will do that. Fortunately my number lines were strong and confirmed and kept me from fading it. LOL.
A lot of guys hedging weakness in cash markets plus Whiting going down adding fuel to fire. Cracks and RBHO had been supporting this strength in gasoline since the past few days. They all ripped. Now, Colonial is scheduled to be fully back in service this weekend and lets say it doesn't, hmmmm?
HA! I swear I did not know that the restart would be pushed to next week when I wrote this. How is it that all this fundamental stuff always lines up with ACD strength that we see coming miles away?
For anyone who likes to keep an eye on potential black swans, in my opinion this is one of the most important charts in the world right now:
I like it but there seems to be a flaw somewhere and I can't put my finger on it. I think it was mentioned in the article --etfs don't add liquidity. I don't know if that's true or not. Every system has a vulnerability. And they have created their own very large system.
For you home gamers out there who want to see what logical trader was referring to in the gasoline markets....have a looksy.