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Oil Looks Toppy: Ultrashort Oil and Gas Looks Good

Posted on May 22, 2008

This type of run simply looks overextended and toppy to me - I believesooner rather than later (probably within a week or two) we are goingto see a sharp reversal in oil to the downside. And it will take thecommodities with it. Things have now moved to purely speculative mode -who else is left to buy and who is not on this train? I doubt verymany....I am going to buy Ultrashort Oil & Gas (DUG)as a trade , not investment. This ETF has destroyed so many people, butwhen it reverses, I believe it will be powerful (this does not short oildirectly but shorts a whole bunch of exploration companies) ...

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etf , gas , oil , speculative