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Crude COT Data: WOW ! What a short squeeze...

NYMEX:CL1!   Light Crude Oil Futures
162 0 5
One of the biggest short squeezes in crude since quite a few years. A correction now is quite normal but there is no reason till now to be concerned. Still expecting 50+ USD soon. A good leverage on Crude will be the offshore drillers since with crude going above 50 we will see significant short covering at these companies. Guess SDRL             will go from 2.70 back to the 7-8.00 region....
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