RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:HOU or?
I believe the Cot sentiment has to change soon, the oil fear premium is close to $0 and the risk is greater than it's been for many years. Coupled with low Chinese stocks and improving economies Brent has to be close to a bottom. Downside risk is small given that world nations have an almost impossible task trying to fix the M.E.
The Ukraine could be good or bad for oil bulls. If there ends up being gas wars in Europe this winter they will need to burn more oil and coal (if they can) but the European economy could get slammed.
Wow lots of bearish bets on gold from COT given the state of the world. However gold does tend to march to its own tune. I have been trading EDR (Endevour Silver). Buy when silver get close to 19 and sell when its close to 21.
Proved to be a great trade EDV is very responsive to price movements.
As to NA natural gas, I am now with Inves20 and bullish. I don't believe in betting on weather but I think given low supplies and builds becoming more anemic that the "fear of a bad winter" is all that is needed to drive gas much higher into September/November. We are also getting to the "seaonally" best time of year to go long.
Random musing great weekend all
Cheers GH