RE:institutional investorsI'm with you on that my Oil Investing Friend...when sentiment is super negative "on the street" which it continues to be...it's a generally a good signal to BUY at the low....and Dammit I see missed $0.60 yesterday...trying get below $1.50 here as cheaply as possible...Squote=2020oilgamble]This is just my opinion: Institutional investors have already started to take positions. they caused the June 8 runup and they have held the stock down all summer to shake the branches and the weak retail out of the stock.
We will see things move very very quickly in the next 5 weeks across all o&g.
There was an article yesterday I read about oil being a coiled spring after 12 weeks of sideways trading. I will try and find and post.
We will be at 60 oil sooner than people imagine.
I believe inventories have been slow to draw over the summer in the reports because all of the floating and rail car storage is being empied out and that was not accounted for in the numbers. There will be huge draws coming as soon as we start filling million barrel tankers.
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