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ICICI Bank Ltd. Message Board

  • shares245 shares245 Sep 4, 2013 1:11 PM Flag

    This is being shorted heavily..The Indian market will crash again as OIL rises..IBN


    will be $18.00.

    Sentiment: Strong Sell

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    • Now a prediction that it goes to $18...again, good luck with that and I'm happy to be on the other side of that bet.

      So this is heavily shorted? Good, that will mean more of a pop on the rebound. TSLA and NFLX were also heavily shorted and the shorts covering helped their stocks surge.

      You think oil will go higher? I actually would not mind that as I am long MMT.v and GKP.l, but I don't expect oil to go too much higher in the near future (or long term). Don't you find it’s curious that oil futures predict that oil will go down over time? Just click on the oil quote and select "futures chain". As I type, the WTI crude Oct future is down to $107, the Oct 2014 trades at $94, the Oct 2015 trades at 87. In fact the further you go out, the cheaper the oil future gets. That doesn't even discount the price into today's USD! Obviously the major oil traders are predicting a steady decline in oil over the next few months and years. I think the heightened tensions around Syria will diminish over the next few weeks/months and WTI will drift back to $100 (obviously Brent will follow this pattern). This is actually a positive catalyst for the Indian market.

      Thanks for pointing out a couple of more reason to be long IBN!

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