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Looking For A Reason To Expect A Rally In Oil? Here’s One
What does a "contrarian indicator" look like?
Well, if recent history is any guide, it looks like "smart" money positioning.
Recall that in March, a massive net long in crude was hit with a reality check during CERAweek, catching a lot of folks offsides. And last Friday, when the latest CFTC data hit, we learned that specs had covered the entirety of their 10Y short on the way to building the biggest long position since 2008 on the heels of an extended rally in Treasurys.
Oh, and don't forg
