If I can just add to what @dwelch is saying, you could try this.
My first suggestion would be to eliminate the for loops around the displacement. You should be able to do the necessary shifts without the for(;displacement--;) loops. For displacements of magnitude greater than 7, things get a little trickier because your inner loop bounds will change and your source offset is no longer 1.
I.e. Your input buffer offset becomes magnitude / 8 and your shift becomes magnitude % 8.
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