Even I was convinced we would slide right through this volume cave below. It appears the net inventory became too short, and a squeeze ensued. We are still trading near the upper end of intermediate term balance, but this environment could squeeze higher.
I have a TZA hedge on, it’s already underwater, but I don’t mind having it into the weekend. That is, unless we blow out of this intermediate term balance:
the squeeze is ON
when the shit goes down you better be ready.