We hope this information reaches you in good health & good spirits! The Psychology of the Call (POTC) team believes the pendulum of crude oil has swung, and the pressure of lower prices is squarely on the shoulders of the "late to the party" longs. Quick Psychological Financial Fusion: IF you were trading crude oil today, which side of the trade would make you feel more comfortable?
Knowing the FOMC could raise rates sooner than later to strengthen the greenback is another factor to consider. We feel the stress of the oil trade is more painful on the long side as oil breaks through $120/barrel. Anyone still upset with short sellers shoul dreconsider. We cheer the fact there are two sides to this market, and the recent witch hunt against speculators must stop, after all, is it not the long term institutions that bid up oil? The trade blotters today speak volumes, and they reveal a massive banking exodus out of crude, and not the speculators many governement officials were hunting for. ----------------------
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1 comment:
Good point about banks involved in oil move, not specs.
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