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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Rich Gottlieb who wrote (20343)	10/16/2002 2:26:46 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 36161

["If I wanted to play the daily swings in crude prices per barrel, where would you suggest I do that. "] ...fist; I would suggest that you don't do it (vbg). Crude futures & commodities trading is not my area... huge potential leverage in both directions...the keyword & concept there being - "in both directions." Others here could possibly direct you to a good commodities broker/trading firm. Imho; I think much of the move may be over...although if all hell breaks lose - we certainly could see $60+ - so if one has some pure speculative mad money... I can see the attraction.

To: Rich Gottlieb who wrote (20343)	10/16/2002 6:42:38 PM
From: jimsioi	Respond to of 36161

Rich Gottlieb, playing the daily swings in Crude. My opinion if you're determined to play the daily swings in Crude then play Crude.....the further you are removed from what you are focused on the more difficult it becomes to trade it. Energy stocks go up and down for more reasons that the price of Crude....where the general equity market goes seems the greatest determinant. Index calls give you poor execution and time erosion. Step right in to the Commodity Pits there Rich, and mix it up with the best of them... Usually people are advised about the risk in commodities that stems primarily from the high degree of leverage brokers will afford the client and the client in his greed usually takes. Doesn't need to be that way. One crude contract is worth $30,000. Put up 10K or 15K and you'll have less volatility in your account than most of us holding the same dollar amount of miners and drillers. BUT don't be seduced into increasing your margin (say buying two contracts with that same 10K or 15K) no, no, cause when you do you'll start making mistakes....like buying rallies and selling breaks...and you'll loose... Lind Waldock is a good broker….you need one that is "discount" and ideally on line, and puts your cash balances in Tbills for you…..cause you'll be keeping that cash balance high, right ???