Oil Again

Oil tagged $135.08 this morning. I received quite a few e-mails on my DUG post last night and some good points were made indeed. It traded 40million shares yesterday while normal volume is 10 million. Was the rise just due to XOM rolling over, or was this a major anticipatory trade of things to come? We sure will find out soon. USO has twice as many puts as calls in the open interest so any bullish move will only add fuel to the fire. The commodity is up today and Friday is usually a bullish day for oil but I will be looking to get long DUG at one point in the next couple of days for my longer term account. I usually do very well at extremes in the market and this certainly fits the bill. Stock futures are bouncing modestly. Good luck today.

Previous Post
NO Reason To Be Long Here
Next Post

Recent Articles