Out at the peak

Saturday, April 29, 2006

SLV has debuted

The Barclays iShares silver ETF was revealed Friday morning for trading. There was much fanfare as there were over two million shares traded. I set the alarm at 6:30am PST to buy my shares at the 129 level.

Tuesday, April 18, 2006

Short disclosure

I successfully shorted RYL from 70.98 down to 66.90; trade is complete. I had a feeling the HB's would have a bounce today, and they got it. RYL is back up to 67.64 now.

This was not an easy ride as RYL spiked to 73 before hitting my sub 68 target. I believe I also have to pay out a div which was only 0.12/share and barely affected profit.

Shorting is dangerous and should not be considered an investment ... only do it with play money.

Sunday, April 02, 2006

Chron likes to think oil is dropping

It seems like editor(s) at Chron.com/Associated Press are trying to spin oil stories so it looks like crude is falling. Yet it continues to climb. They report during slight price dips.

(Note: headlines are revised later after initial story)
March 31st: Crude Futures Fall Below $67 a Barrel
March 29th: Oil Prices Fall Below $66 a Barrel
March 24th: Oil Prices Slip to $63.80 a Barrel in Asia (link dead)
February 13th: Oil Prices Slip (link dead)
February 9th: Warm January saved crippled gas supply (link dead)
February 8th: Natural Gas Prices Drop, Stocks Follow (link dead)

The point is, I never see Chron.com report "higher oil prices" in headlines. Thanks to 321energy.com for old headlines. Who knows what the motivation is behind this irresponsible reporting, but I'm sure it's someone's money.