Comments on: Contemplating an Oil Trade

By: Phantasmix

Phantasmix — Tue, 02 Dec 2008 22:41:06 +0000

Why is it everyone asks money from me? 🙂

Didn’t you see I LOST money last month? arghhhh

By: Leonard The Monkey

Leonard The Monkey — Tue, 02 Dec 2008 21:52:38 +0000

I like short DIG but only when I’m betting on the entire market going down. Oil down market up won’t help.

Today is case in point.

USO would have worked much better.

Just wire me some money and I’ll short it for ya 😉

By: Phantasmix

Phantasmix — Tue, 02 Dec 2008 19:53:38 +0000

My broker doesn’t have USO to short.

I may have to short DIG instead.

By: Phantasmix

Phantasmix — Tue, 02 Dec 2008 19:20:13 +0000

Lenny,
thanks for your input. I’ll read the USO prospectus now, thanks.

Dollar may have put in a top, of course, so that can screw up this trade. This is one of the reasons I’ve avoided oil – so many factors influence it.

Will you be shorting oil since you’re a short-term bear?

By: Leonard The Monkey

Leonard The Monkey — Tue, 02 Dec 2008 19:09:57 +0000

USO seems like the purest play there, less exposure to overall equity moves.

I’m a medium term oil bull – short term oil bear – long term alt enegy bull.

I like short USO.

By: Phantasmix

Phantasmix — Tue, 02 Dec 2008 17:25:36 +0000

Duc,
Saudi Arabia asked for $75 🙂 they told you in plain words they want $37.50 (have you ever been to an Oriental bazaar?)

They asked for $100 previously, they got $50.

Aside from this “anecdotal” evidence, I think it has to go down based on inventory build-up.

Btw, I’m not sure I believe in peak oil, as it’s not actually dinosaur cr*p. Though I think it’s dangerous to keep pulling it out of the Earth, it’s like a protective layer, and we shouldn’t be depleting… probably. We may never know.

Anyway, I’ve been trying to avoid oil trades, but I feel pretty strongly about this right now. I may still just watch it go down, trying to exercise caution.

By: ducati998

ducati998 — Tue, 02 Dec 2008 17:08:14 +0000

Kat,

I’m an oil bull!

jog on
duc