8/29/2008

MARKETS

Hi Risk but I'm shorting two oil contracts some time this AM. Been at this for years and the chances of hurricane damage to either refineries or drilling rigs are as close to zero as can be. High margin but in my opinion this is as close to a lock as you can get. This price spike ahead of hurricane is specs taking a big buck, and most will probably exit before close or will have covered in London.

Futures trading involves a high degree of risk, past performance is no guarantee of future results, and your losses could exceed margin.

Late Add: been a while since I traded and I had no idea the margin had increased to $10K so I passed.

1 comment:

Bill said...

USO is an oil surrogate that trades on the Amex, and has options too.

Nice call.