Monday, August 14, 2006
Quick Alert: Stay Away from Oil
I have a bad feeling about "bottom fishing" this group today. My sense: oil stocks will remain under pressure-- until we get some hurricane action near the GOM.
Let them come in and buy them when no one else wants to.
NOTE: CEO is bucking the trend today-- up 1% to a new high. And, the tankers continue to charge, with gains in TUG, GMR, OSG and TK.
Let them come in and buy them when no one else wants to.
NOTE: CEO is bucking the trend today-- up 1% to a new high. And, the tankers continue to charge, with gains in TUG, GMR, OSG and TK.
Comments:
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Yo Broker A,
You still shorting the SOX? Would you short oil stocks this week?- tensions with oil producing countries down, no hurricanes yet, Alaska producing oil, tighter airport security (is that oil related? whatever.) Seems like the short term quiet headlines is keeping crude under $74.
-gio
You still shorting the SOX? Would you short oil stocks this week?- tensions with oil producing countries down, no hurricanes yet, Alaska producing oil, tighter airport security (is that oil related? whatever.) Seems like the short term quiet headlines is keeping crude under $74.
-gio
I am thinking about shorting the SOX here. However, I believe it may have another day or two to rally.
However, I am strongly considering a hedged approach, such as: ATHR, long: RMBS.
I would not short oil. Only because we are SUPPOSED to get hurricanes on a daily basis. So, far-- we haven't had any.
Perhaps overdue.
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However, I am strongly considering a hedged approach, such as: ATHR, long: RMBS.
I would not short oil. Only because we are SUPPOSED to get hurricanes on a daily basis. So, far-- we haven't had any.
Perhaps overdue.
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