so you think the calls were purchased as long specs and not as hedges against offside short positions? or maybe that that situation would still be bearish? also, what do you mean by "additional selling pressure"? I see lots of things in the $BABA chart but selling pressure is not one of them.
@YETICapital99 what about that chart makes oil look "sick as a dog"? a breaklout, in the context of an existing uptrend, followed by consecutive higher lows and lower highs, strikes me as a very bullish consolidation and projects a move to 150-160 area if/when it breaks out from here.
@joshyoung@hkuppy Yes. Me too. 100%. Which will ultimately translate into proven reserves getting revalued much higher. Hence COP getting rewarded for its mammoth purchase. That is why imho stocks like LPI, which have massive reserves but are overhedged, are going parabolic. Am I off base? Tx!