Tuesday, 15 January 2008

Adding to Oil short as it falls

Oil continues to fall today. I sold some earlier at 92.95, I've just sold some more down at 91.61 in the same size, and I'm putting a stop-loss on at 92.78, so the most I can lose is $200.

I plan to add to this at it falls, I'd love to make this a large winner from initial low risk. With stocks continuing to fall on fears the economy is going to fall into a recession, and Bush pleading with the Saudis to pump more oil, which the Saudis seem willing to do, we could easily see $20 wiped off the price.


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