Monday, March 9, 2009

Where did all the oil bears go?

What happened? I thought oil was going to 30?

Anyone check the price on the double crude short, DTO? It's at 173.

Two weeks ago, I mentioned this as a short at 231 as a play on oil. That's 58 points-and counting!

Now that contango has narrowed, and we may start approaching backwardation, even the double oil bull, DXO at 2.55 can make coin.

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