And the Oscar Goes to
Markets have started March in positive fashion, and driving a recent rally in oil has been a collapse in the record short positions, as hedge funds and leveraged traders rushed to cover. Brent crude rose for six consecutive days, with the latest momentum being driven by a decline in active oil rigs in the US.
Bear markets typically bottom out on bad news and dire predictions. It is worth revisiting some of the noise that dominated sentiment as little as a few weeks ago. Goldman Sachs Group was prominent in forecasting $20 a barrel.
Other banks called for much lower levels. However, the “Oscar” on this occasion should go to Royal Bank of Scotland, who advised clients to “get out of everything and go to cash” only a few months ago.
FP snippet
.....
NOR - is today going to finish as that spring ?
And the Oscar Goes to Markets have started March in positive...
-
- There are more pages in this discussion • 242 more messages in this thread...
This thread is closed.
You may not reply to this discussion at this time.
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)