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10 May
Posted by Sensei @ 12:25 am on Saturday, May 10th, 2008 in Oil Stocks, Trades
Just posting some trades I made right before the close.
Bought UWM and went short the USO by buying June 100 puts.
I’m looking for a severe pullback in Crude. In these type of trades I’m right immediately then I get giddy with the profits, take them and move on, however, they end up being really nice if I just stay put. Like JOYG and DRYS more recently. Anyways, I see that type of trade setup in OIL/USO right now.
So if Crude prices drop, expect VLO and TSO to pop big and maybe MRO as well since they have a big refining business as well. CVX could get some action too on that.
*note I don’t know why this didn’t post yesterday.
Tags: cvx, mro, oil, tso, uso, uwm, vlo
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