Tuesday, July 01, 2008

Oil Trade may be Crowded


I'm concerned about my stock scans because that the majority of my stocks are Oil and Coal related stocks. If Crude Oil tanks, I'm ready to short every oil, coal, and ag stock that is near there 52 week highs, while at the same time ready to go long financials and airlines. Healthcare looks interesting as well. ECB will likely raise rates on Thursday and I'm not sure what impact it will have on GOLD and Crude Oil, but I'm ready to react.

According to the traders almanac, July 1st is statistically a bullish day.

3 comments:

Dinosaur Trader on 5:04 AM said...

So whatever happened to Tapeworm?

-DT

HPT on 6:18 AM said...

I don't know? I was thinking he may be in jail for dating an underage girl or may be in rehab for his sex addiction. You know that tapeworm is a horney SOB.

D.Rich said...

If Oil tanks, don't short finance. Those problems don't have anything to do with energy. Healthcare is a cesspool and also not related. If ECB raises oil & gold spike and short dollar....quickly. Airlines might be good for 15% (1 day only).

Don't hold any trades over the weekend.

Just saying

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