Stocks are up thanks to another mindless spike in WTI Crude this morning after Genscape reported a smaller than expected build at Cushing. WTI spiked over $37 and Brent back above $40 on the news as Futures and ETF shorts cover.
WTI back above $37 for the first time since Jan 6th…
Futures shorts covering in size…
And Oil ETF Shorts have collapsed back to “norms”…
Finally we are worried for Dennis Gartman’s health as he has just $7 until potentially bad things happen:
As he said on CNBC “we won’t see crude above $44 again in my lifetime.”
via Zero Hedge http://ift.tt/1UNc18V Tyler Durden