RE:RE:Maybe....Jnewsted wrote: bago wrote: we see 6 when we hit 55 oil lol. I thought 6 at 50 and many were thinking that was low balling but sellers lined up to bail out. MM's got this under control and until they decide to move it up us retailers are hooped and have to wait....mgba
It's suppressed heavily by shorts, very confident shorts. What will it take for a squeeze? A good inventory report certainly wouldn't hurt.
Oil going over $51 isnt enough obvoiously, but another more than expected drawdown on inventories and oil going up also spooks the shorts and there will be a squeeze. Lets start "hoping" for a large drawdown... I dont like trading on hope, and would rather trade on bullish fundamentals but it seems bullishness right now isnt going to raise the BTE boat.