Translation: I give up. Next time, try reading the post twice before spouting off. Also, try waiting until after 5 p.m. for your first bong hit.
Stosh, sorry for the digression and thanks for the comment, I'll think about that as proxy for long CL/QM.
The contango remains at irrational levels, giving traders with financing and storage the ability to earn handsome, risk-free profits by taking delivery and selling deferred contracts to re-tender at a later date. Logic would suggest that this spread should narrow, especially given the grim economic outlook, but logical trades can backfire severely if not timed correctly (think tech or Crude Oil bubbles). Illogical situations can last months or years, making spread trading just as treacherous as trading the outright futures contract. Sell April Crude for quick gains