OIH crashing

a529612 · Jun 7, 2006

What's going on? Are they thinking oil will go back to $25 or the margin hangman is at work?

sunnie · Jun 7, 2006

Just went long yesterday, so, of course it goes down, LOL!

Seriously, thinking of buying some more at these prices.

ssternlight · Jun 7, 2006

Quote from sunnie:

Just went long yesterday, so, of course it goes down, LOL!

Seriously, thinking of buying some more at these prices.

Just my $.02

Probably not a good idea quiet yet. Basically the tension of the Iranian situation may be diffused until the end of the month. What's the upside catalyst? Hurricanes would probably be the best but no storms on the horizon yet...

a529612 · Jun 7, 2006

The path of least resistance is still up for oil. The oil pullback trade has been working well for me.

Cache Landing · Jun 7, 2006

Decent time to buy. Support at 142.5

a529612 · Jun 7, 2006

Testing support. Let's see how it holds up...

volatilitypimp · Jun 7, 2006

Just sold some nearby puts.

a529612 · Jun 7, 2006

Quote from volatilitypimp:

Just sold some nearby puts.

The Jun 140?

polpolik · Jun 7, 2006

Don't listen to these guys. Oil prices are consolidating, we're in a bull market supported by huge demand and an ever growing market in china, india, and brazil.

Hurrican season is coming... No doubt we'll hit 80/bbl by September.

Very bullish (but careful) on oil.

Quote from a529612:

What's going on? Are they thinking oil will go back to $25 or the margin hangman is at work?

a529612 · Jun 7, 2006

and the summer driving season. They are not shaking me out of my position.