CFTC: Treading water on the net count as both longs and shorts paired back their position last week (down 13% and 7% respectively). This still represents the largest net short count as this point in the season (heading into winter in my records) RIGS: The Natural Gas Rig Count Continues To Slip. After […]
Comment of the Week: OUT DRYS. Taking the wife away for the weekend. Thanks to all. I couldn't have done it without you. ~ Comment from subscriber apb. Z Comment: makes my week to get comments like that! Recently Closed Positions. Bulk Shipping: (DRYS) – Out on half of my Oct $85s for $10; a […]
Housekeeping Item: Welcome new subscribers! If you have any questions please feel free to join the active comment session at the bottom of the daily post. Commodities Watch: Crude Oil: After rallying $2.58 to $82.88 yesterday in what can only be described as a hedge fund induced bout of "I'm long a lot of […]
The A B C Story of Yesterday: A) Crude rallied a little early after 3 count 'em 3 consecutive lower closes, B) get a seemingly bearish report (for crude) and dive like demand for Chinese-made plastic toys, and C) then rally again and close up $0.77 to $80.30 as hedge funds realize that a little […]
Commodities Watch: Crude Oil: After a second day of heavy selling (profit taking) yesterday, November crude is up $0.50 to $0.60 in pre market trading to just reclaim $80. BP delays Whiting Indiana crude unit restart. No reason given. Russian oil exports to fall 120,000 bopd in October due to unscheduled maintenance at a Baltic […]
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