To: Cringing Negativism Network
That money is all, uniformly, locked in what is referred to as "long" positions, in oil futures.
Incorrect. The net positions may be long, but there's a lot of money on the short side as well.
The Ultrashort Oil and Gas ETF (DUG) that bets on declining oil prices has an average daily trading volume of nearly 17 million shares - that by itself is a lot of interest on the short side.
8 posted on
06/28/2008 11:29:27 AM PDT by
javachip
To: javachip
“The Ultrashort Oil and Gas ETF (DUG) that bets on declining oil prices has an average daily trading volume of nearly 17 million shares - that by itself is a lot of interest on the short side.”
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Thanks for that data point. Some time this week, I was about this close ==> ‘ ‘ to calling my broker to ask how I might be able to short oil.
I didn’t, and considering oil popped above 140 the very next day, I’m glad I didn’t. But it’s quite useful to know how one might do so, when the time comes.
Thanks. Much appreciated.
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