Tuesday, January 09, 2018 5:42:14 PM
I never bet against oil, but love to go long when the price goes low. I usually play oil through UCO options. I "only" doubled my money on my last trade. I had October 17 Calls. Bought just a little early when oil still dropped some more and didn't buy quite far enough into the future. Thought about buying Jan '18 Calls, but didn't like the price and went with the October. Sucks when you know what will happen, but the timing is a little off.
IMO... oil is one of those things you never short. At any time you can have a geopolitical event to double the price. When it goes low... you can always count on them doing something to drive the price up. There continues to be a worldwide glut of oil yet they managed to bump the price 50%. They are good!
Don't think of shorting oil until Saudi ARAMCO does their public offering. We are helping them bump the price in exchange for their rhetoric helping us around the world.
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