Market News and Commentary – Wall Street Underground

By Nick Guarino | July 30, 2019

Oil Short-Selling Surges, I Wanna Buy More Than Ever!

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THE LAST TIME THIS HAPPENED, OIL UNDER HEDGE FUND SELLING PRESSURE DROPPED DOWN TO $40 A BARREL AND AS USUAL THEY WERE WRONG AND OIL SURGED TO $70 A BARREL.

Hedge funds have boosted their bets by 46% that West Texas Intermediate crude will fall according to U.S. Commodity Futures Trading Commission data. Their selling this time has driven oil to under $50 a barrel this past June. It has started to rebound now at $60 a barrel. And we believe this time as hedge funds wipe out again we will get $100 a barrel oil. And for the cherry on top, WHEN there is war in the Middle East we will get over $200 a barrel oil. This is the stuff million dollar trades are made of. And not a moment too soon!

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