USO move getting scary at least to me. Already going parabolic on the Daily chart, about to start a short squeeze on weekly and potentially even monthly time frame. Likely going to 81.40 at least, if not higher. Also good probability that this new monthly candle finishes near the highs. As long as above 70.34 it's a 100% long...not that it isn't obviously a long already.
Parabolic oil moves only mean one thing. And that is a significant collapse. Don't be surprised if oil moves to 125 135 150 175 or even 200+ it won't last very long as it will severely hinder consumers and world economies. Then it will collapse dropping more than 50% in a very short time period, by then will be in a recession all because the fed was too afraid to raise rates when they should have years ago.
You're clueless. You said all energy was a "crowded traded" at much, much lower levels. And since then you keep repeating your usual whiny bs when you are wrong in a spectacular fashion. This is not some sudden spike WTI has been trending up for almost 2 years.
a crowded trade doesn’t mean it’s the wrong trade.
%%Market goes "yeaaaaah"!
Wouldn't be too complacent about it.... just delays rate hike for now that will be "caught-up" and implemented later.
Trade accordingly.

