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Milner

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Milner

Re: MWM post# 982

Thursday, 06/11/2009 4:47:38 PM

Thursday, June 11, 2009 4:47:38 PM

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I just read that its hedgefunds that are covering their shorts with call options. They were short selling the living daylights out of FRO and Teekay and OSG. Recent reports indicated that the rates bottomed and they all scrambled to cover their shorts by buying these call options. Now other investers must have seen them do this and copied the movement seeing it as bullish for oil. It now became an Oil play..
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