USOIL: Correction is likely over

I think we have decent odds for a bottom in oil here, after some talks about big players indulging in naked put selling surfaced, banks that -violating regulations- sold put options without any kind of coverage. It could have been that the market was being pushed down to margin call the traders behind these leveraged long positions in oil.
Natural gas has surged tremendously since oil topped, which likely is a short squeeze as well, as per @timwest's analysis, but interestingly, the last spike to the upside didn't correlate with a spike to the downside in oil...
Evidence indicates oil has bottomed, holding technical support from fundamental events (OPEC meeting key level price zone), since we haven't plotted daily highs below this zone yet and the decline has slowed down, forming a couple of inside days.
I bought into a few oil related names and oil futs today, my clients have received updates revealing these picks and the entry and sizing earlier today.

Best of luck for us all,

Ivan Labrie.

Trade fechado: stop atingido