Corpania Ideas

CAVEAT! I'm an amateur philosopher and idea-generator. I am NOT an investment professional. Don't take any of my advice before consulting with an attorney and also a duly licensed authority on finance. Seriously, this my personal blog of random ideas only for entertainment purposes. Don't be an idiot.

Monday, September 22, 2008

Start Shorting Oil Again (at $120 or higher)

With oil's absurd, record leap today I have to once again say it's time to short oil. http://www.bloomberg.com/markets/commodities/energyprices.html From $91 to $128+ in less than a week with no fundamental change in oil production or geo-politics? The market is in flux and needs to be exploited by the intelligently moral to help balance things out. Last I checked, oil was at $128 which is still way too high (for all the reasons I state in my previous posts). There is obviously a lot of money fleeing the stock market and it has to go somewhere. Which is why gold & oil have been bid-up so much. Clearer heads will prevail over the long term and oil will be depressed by the "solar ceiling". Damn, I'm a friggin genius. If y'all exited your short oil positions at $105 (like I advised) you'd be doing great right now. But I concede that if you had ignored my conservative profit-taking advice at $105 you could have made a bundle more by exiting at $91 at one point last week. Of course, I could be wrong about all of this (I don't have magic powers). But so far, I'm looking pretty good. We'll see what happens.

Blog Archive