The Energies Pit Review on The Week of May 3rd
Posted 05-05-2010 at 10:20 PM by gajoinvest24
From Pitguru, traders can view weekly reviews on futures markets to have right decisions for their trading in futures. Today, I would like to share with you guys The Energies Pit Review for the week of May 3rd, 2010.
"Crude oil continues to rally along with RBOB based on the increasingly negative news coming out on the oil spill in the Gulf. This is major news here folks, and the problem is the end is still an unknown - make a sell-the-news reaction nearly impossible until the damage can be assessed. Once they cap it and assess it then oil is a strong sell. Natural gas is a long term buy for me on shifting alternative fuel demand needs, and in the short term I recommend selling crude oil against long natural gas (1 to 1). Rbob remains a safe spread against short heating oil as I expect that to widen until this oil spill fiasco is cleared up."
"Crude oil continues to rally along with RBOB based on the increasingly negative news coming out on the oil spill in the Gulf. This is major news here folks, and the problem is the end is still an unknown - make a sell-the-news reaction nearly impossible until the damage can be assessed. Once they cap it and assess it then oil is a strong sell. Natural gas is a long term buy for me on shifting alternative fuel demand needs, and in the short term I recommend selling crude oil against long natural gas (1 to 1). Rbob remains a safe spread against short heating oil as I expect that to widen until this oil spill fiasco is cleared up."
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