RE:RE:2:30pmI don't really want to try to make a call as to how it will go but it does seem like it should go up if nothing really bad happens (such as bad storage news, more crazy panic selling, etc) between now and 2:30.
I *think* it will go up for 4 main reasons:
1. If it doesn't and we're only leveraged 1x, if it doesn't make headway today, it gets harder to make it tomorrow. Traders know this and want it to go as high as possible before we settle in on July contract
2. Shorts will likely be wanting to cover if they didn't yesterday (remember trading halted)
3. Oil prices are making a bit of a rebound
4. Normal AP share issuing mechanisms are not in place right now so there is a strong bias towards upward movement.
On the flip side any unexpected bad new can totally turn things around. Also, everyone has it in the back of their mind that we are trading above NAV and that's a temporary situation so some will be heading for the exits.