Monday, September 18, 2006
Position Updates: VLO, NGAS, SIRF
Oil feels like it has bottomed right?
I know you feel that way, thanks to my nifty "Fly Survey," indicating 75% of you feel its going to $70-- not $55.
Anyway, both VLO and NGAS are participating in today's energy rally, despite the sell-sell-sell's from Mr. "If I were at my hedge fund."
As for SIRF:
It successfully tested $25 again-- and bounced all the way to $26. However, with oil rallying and tech fading, longs should be bailing on this wave in fairly short order.
I know you feel that way, thanks to my nifty "Fly Survey," indicating 75% of you feel its going to $70-- not $55.
Anyway, both VLO and NGAS are participating in today's energy rally, despite the sell-sell-sell's from Mr. "If I were at my hedge fund."
As for SIRF:
It successfully tested $25 again-- and bounced all the way to $26. However, with oil rallying and tech fading, longs should be bailing on this wave in fairly short order.
Comments:
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O Fly One---Is Mr C selling DVN,useing the old mantra..sell the commidites/oil rally bla Bla Bla..(ok he had a decent gain thanks to their cvx/dvn find and he picked up some around 60ish)and sticking to his guns that engery is going lower...share please! Thanks and only kidding but would like to know the skinny-earl.
# posted by 
: 2:58 PM
: 2:58 PM
Point - if you really believe oil is going up (I do also but not until after the election) and the market is going down (I only see a mild correction) why not make some easy change and short the airplane patch (luv, amr, uaua, jblu)?
Because the airliners are insane investment vehicles.
When oil was hitting new high, so were they.
I'd rather short tech and go long oil.
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When oil was hitting new high, so were they.
I'd rather short tech and go long oil.
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