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This Is Oil's Biggest 3-Day Rally In 25 Years
Is Andy Hall calling in every favor possible, and painting the tape to save his career?
... Or just an epic short squeeze ramp to the 50DMA at $49.36?
Another look at the ridiculous move which stands out in the entire commodity complex (courtesy of nanex):
Credit markets do not appear to buying this as a long-term cashflow-sustaining move...
It appears no one is really buying this. Massive protection buying oil volatility markets suggest this is anything but sustainable...
As we noted previously:
Finally, let's not forget that today is month end for the person many expect will be oil's second casualty in one year - Andy Hall, who late in 2014 blew up once already, and should oil have continued its gravitational descent, would have been in line for a second hedge fund closure in under 12 months.
So is it just month end window dressing by all those underwater commodity managers? Why, of course.
Put another way: If Hall does not get all the help he needs to save his month, he will have to liquidate and send oil under $30. And then there is the ongoing issue that USO remains hard to borrow as always...
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What's really amazing is how natural the price discovery is.
http://www.themoscowtimes.com/business/article/russia-s-putin-venezuela-s-maduro-to-discuss-oil-price-stabilisation-kremlin/529177.html
Gartman: I'm confused, but still buying stocks
http://finance.yahoo.com/news/gartman-im-confused-still-buying-111743434...
Wow, a daily chart.....
What happened to the one minute chart?
You want to talk about gamma and vega hedging, crude options traders running around like mad, MAD I TELL YOU!!
Saudi Arabia was selling too many Treasuries?
Saudi Arabia was going to postpone weapons purchases?
Shorts who came late to the game are getting their asses handed to them.
Who needs Vegas
Once again we can have an entire month's decline undone in a couple days.
Sounds like pure price discovery to me.
That's a helluva crash in oil today...
BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD BTFD
Every FD you can B, just B it!
Put another way: If Hall does not get all the help he needs to save his month, he will have to liquidate and send oil under $30. And then there is the ongoing issue that USO remains hard to borrow as always..."
This is oil, folks...
They ALWAYS find a way.
Real...or conjured...oil (and gas) always head north, however they have to get it there.
m
Why borrow USO? SCO can be bought long and benefits from contango, so should be cheaper to trade than shorting USO.
Janet trying to save the frackers.