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Mid Morning

Posted on May 22, 2008

Everyone knows oil is a one way trade, it can only go up which is exactly why I shaved off a little Statoil (STO) this morning.I have no idea what direction the next $15 will be for crude oil but the price has practically gone vertical as has the price for STO.Chances are if you own any oil stock that is not a refiner or own some sort of oil sector fund it too is up a lot but at the hair over $43 I got as an average price this morning STO is up 38% YTD. As the oil ETF I use is also up a ton, not as much as STO, I am a little heavier than I want to be.The trade specifically was to sell 25% of S...

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crude , etf , pre market