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Old 08-15-2008, 11:36 AM
drunkguy drunkguy is offline
MW Mod & Writer, Jay Graziani
 
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Originally Posted by drunkguy View Post
Call me crazy, but I think it's time to fade oil


buying an EFT, HBP NYMEX Crude Oil Bear Plus ETF (HBTPF)

tries to achieve 2X the inverse of change in crude oil prices. It is down about 65% this year

Currently trading at $7.22, I'll pick up 300 shares



closed yesterday at 9.56, up about 33% in the last month. Just about time to sell I think. Gonna wait until oil gets under $110 a barrel and then probably bail out
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