Tuesday, April 22, 2008

Short Oil and (OIH) as well

That is going to be a very short post...I think "pain level" on my (DUG) position I've been building over the last few days is quickly approaching "my maximum" pain level, but I honestly ( and may be foolishly) finished building entire planned position today. With the way market finally started to react to continuous oil advance ( now higher oil is bad for the market as oppose "market needs oil to go up in order to put in any resemblance of a rally ) I think it is a beginning of at least pullback - if I am wrong - stop is set at -10% ( which is unusually large stop for me - but this is a price of trying to catch a top).

Also, added (OIH) May and June 190 puts.

Who knows - may be today's airlines stocks collapse was a "sign" :-)