RE:Tide... bago wrote: Starting to change again. Back just in time for another run to 50, the 37.5 call looked promising but thinking it didn't have the legs. Ocean took care of oil while I was gone lol but now back in time to see it run back up.....mgba
Shorts might have topped out today. From Nov 1 to 8th, spec shorts added 83k barrels to get to >150k shorts. This only brought the oil price from 47 to 45. Likely took them bringing shorts >200k today to get oil near 42 bucks. But, once shorts start getting in that 200k vicinity, it's typically a sign they are overextended. Looks like they started covering.