Financial history doesn't repeat itself, but it often rhymes.
You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
Monday, June 9, 2008
I feel like I need to post this
I put the short hege back on when we started making new lows...
and I just cleared it when oil dropped another buck, Oil is back up .75, and I don't know what I'll do...
Your point on DUG was well made. Today with oil struggling, so is DUG!
ReplyDeleteWhy can't they just buy puts on oil?????
It's a dangerous trade, 5 years of "Buy oil service on any weakness"....
ReplyDeleteIt takes a lot to roll out of 5years of that working.
Someone was suggesting that the refiners should sell every 135 bid in oil.
a 4 dollar sell off today isn't all that insignificant. It just is in the light of the 16 dollar jump.
I'll think about day trading dug tomorrow or the next day.