Shorting Market or Long OIL, is Hoping Katrina gets WORSE and morally Problematic?

however everybody going into the close on friday thought katrina would miss the gulf, because government release a pr saying it would probably miss the gulf. It was spread through all of the wires. However early saturday they had to issue a release saying they were wrong. Alot of people were going into friday short. I wouldnt blame them. Also people werent expecting the severity cat 5 and directly over the port of lousina and the oil platforms. Im expecting heavy damage to the rigs because alot of people were caught off guard.


Quote from fxpeculator:

Who said someone was initiating a short right now or tomorrow, traders knew about this hurricane on Friday.
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Quote from fxpeculator:

Shorting Market, shorting insurance companies, or Long OIL, is Hoping Katrina gets WORSE and causes massive damage morally Problematic?
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I hope you did not put this trade on.
 
I'm still short. Been short since July 22nd and see no reason to cover. This hurricane and the damage it's done certainly won't make me cover.
 
Quote from newbunch:

I'm still short. Been short since July 22nd and see no reason to cover. This hurricane and the damage it's done certainly won't make me cover.
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I dont expect this market to suddently collapse after riding well above key support levels: 1996-1203 on the S&P.
 
Quote from Bitstream:

I dont expect this market to suddently collapse after riding well above key support levels: 1996-1203 on the S&P.
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I didn't say anything about suddenly collapsing, though that is always a possibility.
 
Quote from newbunch:

I didn't say anything about suddenly collapsing, though that is always a possibility.
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Well, if you are short then you are expecting the market to retrace at least back below today's lows. If that's not the case why did you not close your position earlier this morning?
Just asking..:)
 
Besides Katrina, Greenspan also warned about housing market on Saturday, But that did not do jack to today's climb also...
I am just curious if market will follow the result of GDP on Wednesday :confused: :eek: :confused:
 
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