Just Shorted Crude at 142.47

Discussion in 'Commodity Futures' started by flipflopper, Jun 27, 2008.

  1. Not trying to call a top or anything.

    But with the global economy in its current state there will be an impact on demand.

    Please call me an idiot.

    I'll be back in a month to let you know how it went.
  2. PaulRon


    not a bad move imo... either we see a bottom in s&p and a top in oil soon or much much higher oil prices and much much lower s&p
  3. Tom631


    How did you short crude? I would like to know how so could you please tell how you did it so I can watch how your trade does?
    Thanks and good luck in your trade.
  4. allin


    He probably shorted the USO, its a ETF that reflects the the spot price of West Texas Intermediate (WTI) light, sweet crude oil.
  5. A top in oil wouldn't neccisarily mean a bottom in the S&P. The funny thing is high crude prices and there effect on energy stocks in the S&P has masked how poor earnings have really been these past couple of quarters. If you take away the energy stocks the S&P's earnings are at 10 year lows.

    The initial selloff will give an artificial boost to the markets but in the end they will likely head back down.
  6. Did you sell CL Futures?? I dont agree with the move, but you have balls of steel.
  7. S2007S



    SZO 1X short on crude oil

    Im currently long DTO....
  8. ssblack


    Well done OP, it has likely topped. I fully expect to hear the flak on saying that. I did not trade anything, so flame away.
  9. Nope shorted one August CL contract.
  10. Bad move since the trend is $150 by July 4th
    #10     Jun 27, 2008