Author: John Pugliano
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Shorting OIL- transitory supply disruptions
Yesterday I initiated a position to short Oil via the ETF: DNO. Oil is nearing $50/barrel because of supply disruptions in western Canada (wildfires) and Nigeria (militant attacks). I believe these circumstances to be transitory. Systemic supply exceeds demand and it’s likely that Oil will fall back to its 50 or 100dma. Oil is trying…