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Make the most of current and future commodity market conditions.

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“We hadn’t seen a move like that in quite some time,” said Cacciotti, noting the energy complex hadn’t experienced much movement over the past few weeks, “so the move seemed pretty legit.” Cacciotti’s added “10,000 lots traded in a minute, then some moments later we saw another 6,000 lots, that feels like liquidation.” Reports of a commodity hedge fund unwind were echoed by other traders contacted by Forbes and several news outlets.

ForbesCrude Oil Tanks On Hedge Fund Liquidation Rumors
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“13,000 contracts won’t move the market five bucks,” explained Matt Cacciotti, MMC Trading’s president and head trader, who works at the floor of the NYMEX. “I have a hard time believing it’s a straight trade. Toward the end of the trading session, volume had spiked to 633,000; WTI peaked on Monday at $99.45 per barrel and fell as low as $95.63.

The black boxes [i.e. high frequency trading computers] seemed to be turned off, and it was options expiration day,” continued Cacciotti, suggesting that if someone had “enough bullets,” they could “move the price.”

ForbesWas A Hedge Fund Unwind Responsible For The Sudden Drop In Oil Prices?
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"Matthew Cacciotti, President of MMC Trading, a company that trades crude oil, energy futures and options, heating oil and more, believes the price of crude will indeed push through to $100 in the next six months. “It looks like it is going to go above $80, and from there, the next stop might be $100. It looks like the economy is coming back .. and then, with the weakening dollar, [oil] should continue to rally.”

ForbesOil Poised To Climb

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