Crude up, OIH down

diligent · Feb 20, 2007

this is the type of lower open i was talking about.

walter4 · Feb 20, 2007

Quote from a529612:

You think crude will hit $30 by March?

30 seems too far away, I'd say 50 by April

loufah · Feb 26, 2007

OIH is impressive today. S&P is down slightly, oil is down 17.5, yet all but 3 of OIH's components are up 1% or more.

loufah · Feb 27, 2007

Still surprisingly strong. ES down 9.5, oil down $1.025, and OIH is down just $1.46, which is what it gained yesterday. I misjudged how strong the oil companies are. My puts will probably get to where they were when I bought them, but no higher.

dividend · Feb 27, 2007

Any explainations for today too? Thanks.

loufah · Feb 28, 2007

Wish I knew. I'm long crude, and I use OIH puts as a hedge for that (as well as to benefit from any overall market decline, which often affects the OIH components). I had some puts in other stocks, which I closed out gradually yesterday and was actually up for the day... until the last hour. Between 14:50 and the close, the Dow and the S&P dropped another .75%, oil dropped 80 cents, but OIH, after a dip, actually went up.

loufah · Mar 9, 2007

Glad I got out of my OIH puts last week. OIH is back near its pre-crash, 2-month highs. For today, market is up .3%, oil is down 1.5%, OIH is up .7%. Component NE is up 3% on buyout speculation.

loufah · Apr 4, 2007

Over the past 2.5 days:

oil down 2.5%
S&P up 1.3%
OIH up 2%