Hedge Funds Raise Bullish Bets on Oil (NG lowest f/ year)

Just in time....I was starting to think it might rally forever.

From Bloomberg;
" Hedge funds and other large speculators increased wagers on rising crude prices by 44 percent in the seven days ended Oct. 5, according to the Commodity Futures Trading Commission’s weekly Commitments of Traders report. It was the highest level since April 23....
 Net-long positions in oil held by what the CFTC categorizes as managed money, including hedge funds, commodity pools and commodity-trading advisers, rose by 51,634 futures and options combined to 168,540, according to the CFTC report.
Bullish bets on gasoline prices more than doubled to 50,354, the fifth straight weekly increase, the data showed. Net-long positions on heating oil rose for a sixth week, advancing 21,433, or 69 percent, to 52,699...."

Niice....esp like this part. 
"It was the highest level since April 23...."
Hhmmm, it did trade higher for 3 days after Apr 23 report before beginning a 50 cent. slide. 50 cents!!
Natural Gas ...
"Net-long positions in futures and options combined in four natural-gas contracts decreased by 19,828 futures equivalents to 31,479 in the week ended Oct. 5, the lowest level this year, the CFTC data showed."


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