THE FLIP FLOP FLOP NOT! . . .and Contango

First arrow rally failed. Second arrow took loss and reversed.
Daily 9 had a range of 7690 to 8507. Early sellers were crucified.
I will be a buyer under 7370, but will we ever get there? And problem is two week low is 6327 and the reversal means this is now highly unlikely.
Contango and the Flip Flop Flop Not! Exited shorts slightly lower than entry. Result is net long full position 50 points lower plus gained substantially on the contango. Musical note perp at premium to spot, thumbs up perp at discount to spot. Large funding going to shorts. Professional traders bought spot sold perp at musical note and sold spot bought perp at thumbs up.

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