A pretty wild beast.
down on heavy volume today. be afraid, very afraid. i think there’s still more room to fall despite OPEC efforts to cut production. anyways, i’m adding to my DUG position to partially hedge some of my weaker material stocks. FCX, CLF, POT – such poor s*ckers. sigh.
I’m betting on oil climbing back to $100 for a short-term rebound, but I have also been trading the options on very short-term basis, although the some options are very thinly traded. Interesting today the open interest on Nov 28 calls is only 70, while the volume is 355, the highest among all calls. What does that say?
thats almost as stupid as some of my recent trades, lol
but I am enjoying the action these days! The only call I made on this forum was to short X at $190, which I did and later covered at $110 and went long, bad move! Then sold at $80, stock now is in the $30’s. My second call for which I am sticking my head is for oil to climb up towards $100 level in two months. Nowadays, oil and stocks are moving in tandem.
so you expect stocks to be up 30% in 2 months? God bless your soul - i wish there were more people like you.
no I didn’t say that… oil and stocks are currently in tandem, they don’t always act that way. Just wait after OPEC announcement, you’ll be surprised how many people have’t factored in an almost guaranteed big cut in production. Long DIG.