I am looking for something, other than the CL for a pure play on oil price. Leveraged is okay. Any suggestions. I saw ERY and ERX but they are comprised of companies plus they are 3x. The closet thing I could find is UCO. Any thoughts. Thanks
If you are looking to short oil SCO or DTO!!!! I will be shorting the next parabolic move in oil because $110 oil isnt going to last as the price at the pump continues to soar, gas near me is now nearing $4.10 a gallon, a friend of mine saw premium gas at $4.85 in another town, if this keeps up oil will be $125 by spring and nearly $4.50+ at the pump, that cannot last long so the next jump in oil if it does happen and it breaks $150 I will gladly take every dime I have and short it. These oil prices are not sustainable in this economy!!!! If they do announce they are going to tap the oil reserves oil will fall 10% in a week bringing it back below $100 a barrel which is still high!
christmas gifts for 2012. handing out one lot oil futures for dec 2012 delivery. shop early, miss the rush......... cheers, s
Dec 2008 $36.60 Dec 2009 $76.53 Dec 2010 $96.36 Dec 2011 $98.99 Dec 2012 close today was $109.30. Do you feel lucky?
Just because oil price of $125 is high for USA does not mean it is high for China or India or somewhere else. China and India's oil consumption will keep increasing and USA's will keep decreasing. As of now, USA's oil consumption is less than %18 of global consumption and this ratio will keep decreasing and will decrease forever. What it means is that the link between US economy and the Brent oil price is softening. One day that link will be completeyly broken. And that day is not too far away.