Just Shorted Crude at 142.47

Discussion in 'Energy 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

    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

    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

    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

    S2007S

    DTO 2x ULTRASHORT


    SZO 1X short on crude oil


    Im currently long DTO....
     
  8. ssblack

    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