Thursday, August 28, 2008

West If Your Long and East If Your Short

I posted recently that unless Gustav makes a direct hit(bulls eye) on the Gulf rigs, that the oil and gas stocks would be awesome shorts. I had no idea they would start hammering them today though. DVN, APA,XTO and the oils, started getting creamed and are currently only slightly off their lows. If the storm heads east it will miss the rigs, if it stays west it could cause some big problems. It is still a few days away so anything can happen.


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.