If I think OIL is going much higher??

Discussion in 'Trading' started by gimp570, Aug 20, 2008.

  1. gimp570


    What is the best thing to buy??

  2. SLB, BHI, HAL, NOV, RIG, DO, etc.
  3. gimp570


    Yes i know those stocks...but what moves the most closely to the price of oil??
  4. You can also buy some DIG if you want some oil & gas exposure X2
  5. jjftw


    buy USO
  6. the most obvious answer is buy oil futures or futures calll options. You get a much better tax structure than equity side plays. If you are unaware, futures get a 60/40 split, 60% is taxed as long term cap gains (currently 15%) and 40% as ord. income, regardless of holding time, (could be seconds for all they care).
  7. NOV is one of my long positions for several months, and it's been giving me a headache. Today was a good day for NOV, but I still wonder about this one.

    Landis, are you a buyer of NOV?
  8. gimp570


    can you buy oil futures with an options account or do you need a commodities accout?
  9. stop thinking. That is how people lose their money. You don't know where things are going. You are blindly guessing.

    Stop guessing and trade what you see.
    #10     Aug 20, 2008