...and oil could have further to drop, but I think I am going to take the profit on this short trade (SCO) today, given the erratic nature of these ultrashort ETF's and my spotty record in the oil market. Profit is currently a bit over 16% and in a market like this, that is worth taking.Edit (9:35) There, done... profit of 17.7% taken. After allowing no more than a small loss in NatGas last week (per the parameters in previous post) we exit the energy patch feeling good in that while 17% may not be a home run, profit is always a good thing in difficult markets.
