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Friday, November 21, 2008 10:32:19 AM
Never heard of this guy but he is in complete synch with the guys that I follow.....a much lower dollar and much higher commodity prices from these levels. We started shorting oil at $135...a bit early...but ultimately correct.
Other than ALRY, which I now admit was a pretty big mistake on my part (but will hold until it bankrupts itself OR recovers), I have been in cash since last spring.
We just started nibbling on buying back, oil and gold. Perhaps a bit early, but close enough. Keep in mind...these are TRADES but they offer huge upside potential in what is a horrible market.
Here are the vehicles we use to trade these............
DXO (oil) currently around $3.......$4.50 just 5 days ago and over $6 a month back. Traded over $25 in mid July when oil hit its peak.
WFT (oil services company) currently around $10......$13.50 just 5 days ago and hit $18 a month back. Traded as high as $45 back this summer.
QLD (gold) currently around $20-21.......$27 5 days ago and over $35 a month back.
Again, we live by the mantra, hit it to quit it, so just trades. But these have fallen so hard and so fast, it is just a matter of time before we get a counter trend rally in them.
If you believe the dollar will also plummet, try these ETF's......EEM(emerging markets), IFN(India) & FXI(China). Again, all have been battered with a rising dollar but will snap back HARD when the dollar falls.
Stogie
http://www.thebbqguru.net
Stogie
http://www.thebbqguru.net
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