Hannibal

Oil & Gas Headed Lower as Economy Strikes Consumers

Oil didn't make sense at $148 and it doesnt makes sense at $70. Hot, leveraged money has been running the commodity markets for some times now, not fundamentals. Getting long DUG now or Short DIG makes no sense. This market is uninvestable, but taking the opposite site of the capitulation trade has been very profitable, and will continue to be. I think the better strategy short term is to buy the capitulation moves and sell the following moves back to the 20 day SMA until the things calm down a bit.