“Perhaps A Lot”: How Much “Smart” Money Ran Screaming After Last Week’s Crude Carnage?

We've talked here at length about the extent to which "damn the fundamentals, I'm staying long" turned out to be a really, really bad idea with regard to crude. Here's how we illustrated the situation late last week in the immensely popular post "'Wait For Iiiit….' Crude’s Epic Collapse Is Warning Sign For Another Massively 'Consensus' Trade": https://twitter.com/heisenbergrpt/status/840225397543428096 Well, as it turns out, that spec long position was cut in WTI (albeit slightly) headi