I am considering shorting oil at around $69. But to be honest I am a rookie at this and am not sure of the best way to do this. I have been following the prices and news and watching trends and I honestly think in a few weeks (With OPEC meeting to discuss lowering prices) there is going to be a drop in price. I am looking for recommendations and the best way (Company, etc) to go about shorting oil futures. Any help, insight and recommendations would be greatly appreciated. Thanks, Pete
Well, you start by NOT shorting at the very beginning of traditionally one of the strongest months of the year: http://www.spectrumcommodities.com/education/commodity/charts/cl.html I might begin shorting myself at the end of Sept if we get a further rally in the month.
I am thinking more about mid month, just before the OPEC meeting. Would you concur? Let me also ask this, how would you go about doing this? What company do you think is the best to short through? Obviously I want to get the best value. Like I said I am pretty new to doing this and all help for this n00b is appreciated. The last time I did futures was about 15 years ago with gold and to be honest I forget the best way to go about this. Thanks again for you help. Pete
If you want to short oil, wtf are u asking about companies for? There be plenty of liquid crude futures to short. Don't complicate it with managements, earnings, dividends, etc. If you are limited to shares, you might consider BPT, which is a relativley pure-play crude 'stock,'
wtf am I asking about companies? Because as I stated I am pretty new to this and not sure the best way to go. What I was asking is who to do it through. Sorry I am not as learned as you in this.. but that is wtf I am asking in the first place.
there is another thread in which some alternatives to crude oil futures are mentioned www.elitetrader.com/vb/showthread.php?threadid=54675