if anyone thinks oil is headed back down, which i do think many people do, than going long CAL right now is not bad choice, could easily go to 30+ if oil trades down for the next 2-3 months.
Anyone with oil hedges could be getting the screws put to them.... Not very sure, but I believe Airlines hedge using Heating oil and Oil contracts.... Not sure where I heard that, but some clarity on this would be nice!!!! $COSTAverageMAN
For their sake I hope not. As rediculous as this sounds my data shows the current strategy (tracking flags alerted last March 2006) of rotation is busted laggards. Gm,VZ IP,DD,KO,BUD etc... Shuffle@ every high and low--- rotation to reduce beta exposure without raising too much cash. The usual strategy of rotating into low beta oils won't work this time.