Oil Plummets Again- This time to $91

Oil is clearly crashing. This sell-off in oil has been more fierce than anyone thought likely. Oil seems to have been hit by the perfect storm.

Luckily, I recommend that short about $50 ago

DUG is currently at 47.60, which is 46% higher than my original call.

Oil looks right now looks to be easily headed to $80. I think it will near it but I would prefer to take some money money off the table because the inventory reports will come out today. It is likely that Hurricane Ike did affect short term supplies.



I would also like to add that its prudent to buy companies severely affected by high oil prices such as FDX, PG, and KMB