RE:RE:Dumped on every Bid here this Am a brief excerpt from the Zero Hedge for those not interested in the long version:
The hedge fund(s) with this position has probably given away a large portion of their profit getting out. They have been taken to the wood chipper.
I know there will be all sorts of attempts to explain the markets through fundamental reasoning. Ignore them. Someone big just hit the puke-point for unwinding their long crude oil short nat gas (and nat gas spreads) position. It’s as simple as that. That’s why we are hitting record number of down days in a row. And it will only end when they are finished selling their crude and buying back their nat gas.