Who called the "top" on oil?

[wig]

Originally posted by RawAlex@Jul 19 2004, 01:54 PM
http://www.marketwatch.com/news/print_stor...&siteid=myyahoo

$42 on futures... in the summer that is a pretty big number to work from. If the fall / early winter is cold, I could see where $50 oil is possible.

How are you guys doing playing the other side?

Alex

I trade primarily three futures markets... equities, interest rates and metals. Because of the margin/leverage, my futures account represents about 5% of my portfolio.

I rarely if ever trade oil, but I did sell a very small position when I said it would peak. Sold 2 contracts at 42.00 and bot them back the next day at 39.90.

That's $4200 profit on a $6750 margin in 12 hours.

There's an old saying... bears make money, bulls make money and hogs get slaughtered.

When you can consistently make 50% - 600% a year in a futures trading account, I'll be interested in what you have to say.