by Rick Ackerman
For some reason, the algos and trade-desk whizzes didn’t get the message on Tuesday: crude oil prices were rising while the broad averages were falling. Crazy! Usually, the markets can’t breathe and chew gum at the same time — meaning that, by tacit agreement among The Players, they buy stocks only on days when oil quotes are rising. Just how long these two vehicles can flout this sensible rule is anybody’s guess. But if it continues for a few more days I’d be tempted to infer that something’s got to give. When that happens, don’t be surprised if they fall in tandem like synchronized divers. Whatever happens, we’ve got a ‘live’ short position in the E-Mini S&Ps that is showing a paper profit of $1500 per contract after two days.