Bullish on Oil

KC Scott · Post by **KC Scott** » Wed Nov 01, 2006 5:52 pm

Oil is reaching an Intratrend Bottom.

Bought the OIH (Oil investment Holders) ETF today at 131.05

Mister Bushice · Post by **Mister Bushice** » Wed Nov 01, 2006 6:06 pm

do you use one of the big brokers like scotttrade, or a local one?

also, where can a hisotrical trend for OIH be seen?

KC Scott · Post by **KC Scott** » Wed Nov 01, 2006 9:15 pm

Scottrade - $7 per trade - pretty good execution

You can pull relevant info on OIH at Yahoo:

http://finance.yahoo.com/q?d=t&s=OIH

I'll throw up a chart later that shows the bottom / Trend reversal

Mister Bushice · Post by **Mister Bushice** » Thu Nov 02, 2006 12:06 am

Question. Lets say I buy in 10 shares at 131.05. After a month, it shoots up to 152.05, and I decide to sell, because i think it might trend back down.

I have made $210 bucks. What in hell can I do with that money and the original investment? Move it to another stock? cash it out? or does scott trade hold cash in an escrow type account that you can use at a later date?

KC Scott · Post by **KC Scott** » Thu Nov 02, 2006 2:22 pm

Mister Bushice wrote: I have made $210 bucks. What in hell can I do with that money and the original investment? Move it to another stock? cash it out? or does scott trade hold cash in an escrow type account that you can use at a later date?

All of the above -
unused funds are in an interest bearing account until applied to a security

Mister Bushice · Post by **Mister Bushice** » Sat Nov 04, 2006 5:59 am

Good call on this one. It's up to $135.97

Mister Bushice · Post by **Mister Bushice** » Thu Nov 09, 2006 7:43 am

139. looking better.

You do any brokering, Scott? :)

KC Scott · Post by **KC Scott** » Thu Nov 09, 2006 4:33 pm

I just sold OIH at 142.10 - I think it will pull back now.

Always a good idea to take profit when you have a run up that quick.

I'll look to re-enter after I guage the pullback.

Joey Moss · Post by **Joey Moss** » Sun Dec 31, 2006 9:23 pm

Long time lurker formally known in SCIII as Timmy Canuck...

Anyway, I just saw this thread and thought I'd through out this link for those of you interested in Oil. http://www.321energy.com. It's not much to look at but it's fairly balanced and is a good link to enegy stories from around the world.

PS- I work as a petroluem geologist here in calgary but I don't invest in the patch since my job and options are already rinding on the oil price I don't need any more eggs in that basket.

KC Scott · Post by **KC Scott** » Wed Jan 03, 2007 8:21 pm

Oil is still pulling back - a lot of factors in play too include the mild winter, and the inability of OPEC to stick to their called for cuts.

There is still significant downside before I'll call buying oil.

Thanks for the Input JM