Algorithms at Work or other manipulation?

[Cliff_N]

Good morning! With the spooking of oil traders about demand and the CPI report, at 8:45 AM, 15 minutes into the market, all 30 oil and gas stocks I track took a dive. I track on Marketsmith and can see the action by the minute. All stocks seem to follow similar patterns in either direction, unless there is news on a particular stock. May I get educated on the dynamics I am seeing? Thanks! Cliff

[dan_s]

We will start getting a lot of strong Q4 results next week. Hang tough, oil prices are going a lot higher this summer because there is very little untapped supply out there. Demand will exceed supply in Q3 and we can't keep draining the SPR.

[Cliff_N]

Thanks! I have no intention of selling. Just trying to understand the manipulation. Agree on your assessment.

[aja57]

Just a suggestion on your question , Cliff. Go read up on the BlackRock investment platform called Aladdin. It's frankly more powerful than the US government and with the deranged Larry Fink at the helm with his ESG garbage, one can only imagine what the short algos are on oil and natural gas.

[Cliff_N]

Thanks, I have never heard of the Blackrock platform. Scary: https://medium.com/yardcouch-com/blackr ... 6111277e0f

I checked CPE, they own 12.7% of stock, the largest shareholder:

Blackrock Inc. Shares: 7,831,506 Sep 29, 2022 % of Total: 12.71% Total Dollar Value:320,621,844