Who wants to go short oil, into a long weekend, with a hurricane of death coming?
Tell me.
If so, you’re either a riverboat gambler or a degenerate OTB guy (no offense to online gamblers).
In my not-so-humble opinion, the easy trade is to get long Western Refining, Inc. [[WNR]] , Valero Energy Corporation [[VLO]] , Tesoro Corporation [[TSO]] , [[DIG]] and [[IEO]] into tomorrow, as Gustav shows his balls of fury.
If you choose, you can sell out tomorrow and take your winnings to the local race track. Or, you can roll the dice and hope Gustav will do some damage to those rigs, that cannot be fixed or walked away from.
Every once in awhile, it’s worth a shot to throw some dice. However, I suggest doing so, only if you have big gains (like me) to fall back on. If you are some sort of destitute loser, sit this one out or hedge it with a long [[DTO]] position.
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Gustav seems baked in to the market…Hanna maybe not…
Will the levees hold?
Even if mother nature throws up an air ball over the weekend, the Oil Bulls are going to smack her up. Don’t bet on Russia or Iran doing the right thing either.
Eariler today I said ABK was up 500% off its July 15 low.
It’s now up 600% from the July low.