Good time to short oil?

Discussion in 'Commodity Futures' started by reno4nook, Oct 17, 2005.

  1. Anybody see today's rise in oil prices as a good chance to short?

    No one really has any idea where this tropical storm Wilma will go.

    Odds seem unlikely that it could strike the oil producing sections of the western gulf because of the current upper level westerly wind pattern.

    With it being far south, if Wilma turns north, it should head for Florida, not Texas.

    Even if it did hit Texas, how much more production could possibly come off line?

    I say oil prices will be back under $62 by this time next week.
  2. Updated reports now say Wilma is likely to hit Florida, not Texas.

    Still time to short oil @ $63.55
  3. Go long lumber
  4. Will buy to cover at support @ $62.10

    Still time to get in.