RE:shorts will start covering soon, maybe start today2015ideaman wrote: then where will price be?
Article from the weekend.
https://www.theglobeandmail.com/globe-investor/investment-ideas/oils-modest-rebound-means-smaller-companies-make-bigger-returns/article23235765/
Discusses common theme... junior/mid-tiers and their initial bounce/short coverage. Funny thing now is that I'v read a lot of articles about the oil bottom, initial bounce, short positions etc and ATH seems to be either a) ignored by media or b) under the radar ,,,,, they are in a better position than many of these spec oil plays and they have 60+ million shares shorted... I'm sure the shorters are happy not too much attention has come this way. imo oil has another run down and should recover end of year to the 60-70 range. The article mentions retail taking up positions which makes sense... some got in pre-bounce, some are going long to ensure not to miss the next one. ATH long looks like a sure thing to me.... just waiting for the squeeze.