Oil getting crushed. good time 2 buy

Discussion in 'Trading' started by stock_trad3r, May 28, 2008.

  1. imagine how many speculators blew out thier account this week going long. kinda like the dotcom crash. 140 contracts+10-1 margin+falling oil=p0wn@g3

    oil is going much higher in the kong term. Good time 2 buy now.
  2. If this is kinda like the dotcom crash, why would we buy now ?
  3. Like the dotcom crash in that a lot of speculators lost a ton of money in a short period of time.

    But the fundamentals for oil are very strong which is why it is a good buy. This correction was needed to get rid of some of the speculators before the price become too parabolic.
  4. So what's your position, ST? I mean, you have to have an open position, right?
  5. I don't own everything I recommend or else I would have 30 or so positions and that would be excessive. Oil is a good long, but I would rather own MOS, CLF, AAPL or VISA because there is more upside.
  6. wow look at oil go
  7. Ok, so as I understand it, you expect others to heed your advice, but you don't actually personally take most of the positions you recommend.

    Am I missing anything?
  8. yea pretty much
  9. No one can fault your honesty.
  10. PaulRon


    To be honest i gotta congratulate stock trader for being bullish when everyone was bearish earlier in the year. Even though it was dumb luck he still got it. How long can his dumb luck last is another question... you still bullish stock? no need to answer
    #10     May 28, 2008