Energy - WTI Crude Oil Reversal

2021年10月11日

Idea for USOIL:
- I find it difficult to believe in the energy crisis narrative. I trust the currencies more.
- DXY's rise will create a deflationary bust.
- In time series, seasonality dominates correlations. WTI facing headwinds of bearish seasonality .

Speculate a short term top at least and reversal. Going into next year or even earlier, we will see a shortage turn into a glut.

GLHF

2021年10月21日

ノート

Here we are at 100D 2Std Dev R:


and even the 100M:


Backwardation makes this tricky, but I think a pullback to 70 or even 40 is due.

2021年10月21日

ノート

However, because of the nature of the "Spring" when it was negatively priced, I would not be shocked for 100+ prices after a pullback to 70:

2021年10月21日

ノート

Maybe it will be a pullback to 70, monthly wick blowoff top to 100~ then 40

2021年10月30日

ノート

I imagine the "Energy Crisis" is largely over:

2021年10月30日

ノート

Rising prices are driven by perceived shortages and speculation, rather than fundamental supply and demand.

2021年11月15日

ノート

I flip flopped a little bit due to term structure in this idea, but this is the reality of the situation:


max bearish

2021年11月24日

ノート

The SPR release is a death sentence for both oil prices and "inflation". Not because it addresses supply, no. Supply was NEVER an issue. Term structure and large oil traders and speculative excess was all that mattered. Now, oil traders can simply short spot from SPR and buy lower priced futures contracts. Price will come down, CPI will be low from now, inflation headfake. That's that.

Goldman and media blaring inflation again, just like with gold, trying to exit on retail.

2021年11月26日

トレード終了: 利益確定目標に到達

“He sees things before others even begin to think about them.” - on Marc Rich