Daily fluctuation in WTI really don't mean much at this point in our rebound....
The fact that SAC Capital having a large closed position ...mean these guys are long PWE...fr a big gain..
Not necessarily true as they had cash redemptions to deal with.
In our total production of Oil how many Boe are un headged?
Sentiment: Strong Buy
Correction-55,00 K bbl -floor 91.45 -ceiling 104.42.There is a lot of upside.
55,000 K is what I meant.
Range is from $94 to $106
Don't "closed positions" mean the fund completely sold off all holdings and "closed" the position??
Hedge funds short companies. When they close an open short, they are buying and repaying the stock that was loaned to them.