Katrina a 5, Oil at?

Discussion in 'Commodity Futures' started by protrader-2K5, Aug 28, 2005.

Monday to Tuesday, oil TOUCHES at least?

Poll closed Aug 30, 2005.
  1. $69

    3 vote(s)
    3.5%
  2. $70

    25 vote(s)
    29.4%
  3. $72+

    47 vote(s)
    55.3%
  4. It will stay lower than $69

    10 vote(s)
    11.8%
  1. Brandonf

    Brandonf Sponsor

    Im still short XOM, but I must say yesterday sucked and if we get another day or two like that I will be out of it. I was looking at it vs all of the other oil and oil related stocks and it was showing a lot of relative weakness. You can see on the weekly chart that it had not had any upside movement at all in some time, just stayed sideways. I was thinking we may be near a top in Oil, I still think that actually, and I wanted to short the weakest major oil stock as I figured that would put me in the lowest risk situation.

    Brandon
     
    #101     Sep 1, 2005
  2. Did you at least hedge by going long a stronger oil stock?
     
    #102     Sep 6, 2005