S3 Partners (@S3Partners) “Energy ripped 37% in Q1. Then it fell 12% in Q2 after peaking in early April. On” — TopicDigg
S3 Partners
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Energy ripped 37% in Q1. Then it fell 12% in Q2 after peaking in early April.
On the latest episode of Risk & Return @BobSloanS3 explained a key positioning dynamic behind the move.
The setup was in the positioning. Even after the first leg down from April, short interest in the sector remained low, which made it a one-way bet. Shorts covered into the top and kept covering, from 6.2% to 5.5% of shares out.
That left an air pocket. When the peace deal hit, there were no shorts left to cover and cushion the fall.
Listen to Bob & @CGasparino discuss, full episode links in comments.
$XLE $XOM
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