Have d the bottom atm, page-24

OOO cant take a trick. They switched to September exactly at the wrong time when the June contract reached a low.

If theyd continued with their previous investment strategy, they would have been up by something like 40%,
however they chose september which is up only a few percent.

The other thing is, and this is what I learnt in the last month, that there is no 'spot' priceof Crude.
The price that the market displays as the 'Crude price' is the current future sprice of oil which currently is
June (the Front month contract).

Previously the change-overs to the following month had been a smooth transition and did not affect the Front month amount by much.
But only recently it was very noticeable when it fell to -37 and the next day was +7, and many
investors hadent known how that operated.
Apparently it was the first time in history that it fell to negative at rollover.