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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Fiscally Conservative who wrote (11513)9/8/2008 9:51:28 AM
From: jim_p1 Recommendation  Read Replies (1) | Respond to of 50328
 
That's a hard one to predict the timing on. The trend for the economy/oil is down and the trend for the USD is currently up. I'm up over 70% on my DTO and am watching the USD very close for a time to take profits. As long as the USD holds up, oil should fall back to the $75-85.00 range, but if the USD reverses the current trend it will be time to take profits on oil shorts.

Jim



To: Fiscally Conservative who wrote (11513)9/8/2008 10:29:34 AM
From: RonMerks  Read Replies (1) | Respond to of 50328
 
Re- 'You still think we will see Oil price this low in the next six to nine months?'

Goldman just played the specs as chumps.

Shorted them on the $149 call- and today comes out with a sub $100 call- in which they'll probably turn and go long.

I think you need to watch China's market as an indicator of oil prices. I still say oil see's $80 by next spring.

Ron


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