Crude COT Data: WOW ! What a short squeeze...
One of the biggest short squeezes in crude since quite a few years. A correction now is quite normal but there is no reason till now to be concerned. Still expecting 50+ USD soon. A good leverage on Crude will be the offshore drillers since with crude going above 50 we will see significant short covering at these companies. Guess SDRL will go from 2.70 back to the 7-8.00 region....
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