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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: russwinter who wrote (17436)12/3/2004 2:10:28 AM
From: ForYourEyesOnly  Read Replies (1) of 116555
 
Weakness in oil:

Looking at the energy COTs before the oil crash this week, it is clear that the specs must be significantly short oil and the oil products.

A story going around here in Japan is that a Chinese futures trader working at a Chinese company in Singapore blew up his position (loss of over $550M), and was forced to close everything out. That in turn contributed to the sharp decline......or so the story goes.

Cheers,
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