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Buxton ND | The BATTLE has started #crudeoil
Longs buy 40k
Shorts sell 60k
Net selling of 20k on the ending 12th
Smallest net long since 7.10.2012 #moneyflows
I say "started" because this is the first week in monthssss the longs finally have to balls to step in and actually start buying. This was out-weighed by the 60k of new short selling. Since the ISIS deal hit the fan mid 2014 there's been up and and downs but the the long side of the spec money has been slipping out the back door.
That 40k of new longs was added at roughly 31.52 ECLH so there already under water. IMO these traders buying down here,,, a little margin call does not phase them.
This does not mean crude has bottomed and made THE low and its only one week, well maybe alittle bit of 2
Market tops tend to come very quickly, where bottoms take some time, it's a process and the process unwinding all the money flow goodies.
There's been some talk of $10 crude,,, nayyyyy I can not buy into that tho $20-25 could be doable
Is it time to do May's trick here ?
Edited by Sat 1/18/2016 07:27
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The Crude Battle
