I’ve been keeping an eye on the price of oil and everyone is talking about it but I’m guessing it’s going to crash hard at some point. The price of natural gas has barely budged and other commodities don’t seem to be surging either so I’m left to believe that there is paper demand and games being played with oil futures. Unfortunately I’m in-the-money with my OIH options but I’m hoping OIH will stay above $110 so I can cash out. The only caveat is if a major hurricane blows through the Gulf of Mexico between now and July expiry. In other news, the US Treasury (10 year) market didn’t do too well today as yields spiked. I think the Fed is double dipping again so we’re in for some pain…
Keep an eye out and be careful out there….
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