77% of CNBC viewers believed "the bottom was in" on June 4th 2015 (with crude having rallied in the few days up to the survey to over $63). It appears things did not work out as the 'smart money' expected. The current front-month (Jan 2016) WTI is now tradingh at $38.25... well below the August cycle lows and back to the lowest since 2009...
[3]
We note that $35 puts are the most-active option, and as Bloomberg reports,
"We are going to keep going lower," says Tariq Zahir, a New York-based commodity fund manager at Tyche Capital Advisors.
"We may hit $35 before the end of year."
At this rate, we may hit $35 by the end of the day.
So - is the bottom in now?
h/t @GreekFire23
