Sept. 14, 2006

 

On August 18th I made a recommendation to short the Crude Oil market. As Crude is now approximately $15.00 off its highs, with the last three weeks being almost straight down, and news all over the place suggesting Crude has entered a bear market, I think it is time to exit all short energy positions, whether they be in Crude, Heating Oil, Unleaded Gasoline or Natural Gas...If you are one of those investors who thinks the energy market is still going higher, I think this is a great place to look at buying it.

 

I am not in the habit of exiting markets and then going the other way, but I have done so today, having bought November Crude with approximately a $2.50 cent stop. I am unsure as to where I think it might go on the upside, but suppose I could easily envision a $6-$7 rally from here... 

 

Charts follow...Give me a call if you don't think this is nuts....of if you do...

 

Bill Rhyne

866-578-1001

770-425-7241