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« Nuclear Power, Once Cheap, Squeezed by Mounting Costs | Main | U.S. Nuclear Energy Industry Has A Clean Bill Of Health And Says Its Plants Deserve A Life Extension »
Tuesday
Mar292016

Crushed By The Record Oil Squeeze, This Is How Energy Bears Are Shorting Crude Now

The "short energy" trade worked great for a while and then, as we first warned in late January, just as everyone jumped onboard leading to record WTI (and oil and gas equity) shorts, it very suddenly stopped working in early February when oil proceeded to soar by 50% in the month ahead, leading to the biggest short squeeze on record and crushing all those who had recently gotten on the short bandwagon (as well as most other shorts).

The result of this mega-squeeze has been a significant revulsion to shorting oil directly or indirectly, either by way of the underlying commodity or energy stocks, many of which have soared in tandem.

And yet the shorts remain, and continue to press their bets on the troubled energy sector. However, instead of directly shorting crude and various first-derivative oil and gas companies, short sellers - burned by the recent squeeze - have changed their strategy and shifted their sights to secondary exposure, namely those regional banks that do business with the industry. These are the same banks which, as we laid out previously, have the highest exposure to the very troubled energy sector, as laid out either by S&P:

read more......

 

Chart courtesy of u308.biz

Uranium still going nowhere fast.....

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