Schreiber shorts WTI crude at Ira Sohn


"There's $33B that's net long WTI (USO -0.4%)," says PointState Capital's Zach Schreiber at Ira Sohn. "Now, if you're long, I'm sorry for you, but this could make you feel comfortable," Or, he says, it might make you scared. "I'm sure that will be a smooth exit when all those clowns try to get out of the Volkswagon."

“U.S. crude is being drilled for by the same cast of characters that oversupplied the natural gas market ... We just saw this movie. Why should we expect a different outcome.”

Bearish on WTI crude (he suggests offsetting your short by buying some brent BNO), Schreiber is bullish on the U.S. refineries, naming Valero (VLO +0.7%) and Marathon Petroleum (MPC +0.3%) as two he owns.

ETFs: USO, OIL, UCO, SCO, DTO, DBO, CRUD, USL, DNO, UWTI, DWTI, SZO, OLO, OLEM, TWTI

Earlier Sohn coverage

Live blog

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs