Oil stocks - FTO HOC XOM

Discussion in 'Stocks' started by Comptalk, Sep 11, 2006.

  1. I have some pretty large holdings on these three stocks. I am trying to hold on, but oil just keeps on going down down down. Does anything think this down turn is short term and it is worth holding on to the oils? Having the sam problem with metals too. :(
  2. Got Puts?®
  3. Bullet


    Got Hope??
  4. Nope, only stock.
  5. piezoe


    Commodities in general are being hit pretty hard. Mining stocks, mining equip, oil, even ADM. This is going to result in good buying opportunity well down the road. If you're still hanging on long perhaps consider buying some insurance in the form of atm or just below atm puts. It might be a small price to pay for a good night's rest. It looks to me that we will have more to go down as I expect oil stocks to continue to drop as long as the crude price is dropping. I'm expecting crude to drop below 60 so i am just waiting for that event. Problem with shorting oil is that it is subject to rapid turn-around if george decides to do some iraq-style "nation building" in iran, or if a pipeline gets blown up, etc. If you do want to hold through the present drop, rest assured that within a year, or two, or three, (as soon as the coming US recession ends) it will be right back up there. But of course that isn't a very efficient use of money to do that.
  6. So is this buy the dip or short like crazy
  7. I'm shorting like crazy.

    I figure at least 50% (probably more) of those long in commods the last year or so would rather take their profits and run like hell than wait around and lose more.

    If true, the current levels will crash.