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April 17th, 2014 at 2:22 pm
@wombat I have suspicion, that this spread trade got so many people jumped on it, that it became un-tradeble. When so many people start unwinding it at the end of the cycle – it drives spread wide again. (In fact it may create so many fake shorts on front months, that it keeps oil from going down, until those shorts are closed (today))