Central NE | His timing was horrible, but I think one needs to be careful if going long on paper here. I think we have 1- 5 more days at most before a pullback.
The reason as i see it is the current short squeeze reaches its zenith when the next contract delivery date happens, and most underwater short traders dont want to wait until the very last day to be forced into covering.
Think what the nickel market did last year or the august contract in corn needing to cover before the end of the month that marks the low nearly every year a few days before when farmers are forced to sell what is in storage at the coop.
the pullback might look like a crash, but is only a correction but will not be permanent.
just what I think is going to happen IMHO but it wont affect the ounces in your stack, just if you want to trade it for green paper rectangles. |