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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (17843)	3/9/2016 7:00:48 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Bob, I have been looking at the forward strip of Crude futures every day recently.... I have never seen anything like it.... there was volume in every single forward crude contract going into FEB 2019...every single one and it's like that day after day........ there is so much forward selling going on and the open interest is starting to get really large several years out on the forward strip....... It's definitely putting a ceiling on prices..... and it means that many of these companies are going to have money to keep pumping and fracking for the next couple of years....... It's looking like a long workout with regards to price.... Goldman;s call of a $40 -$20 range with lots of volatility looks like it's got more and more merit.... right now it does not seem like we are going to see prices much below $30 again is the way I feel....but we shall see what does happen. JJP