$15,000 Tuesday – Monday’s Bottom Call on Oil and Gasoline Pays Off!

How's that for a good call?

As I told you in yesterday morning's post, we've been pressing our long commodity bets as the Dollar topped out at the 100 mark yesterday morning.  As you can see on the right, our gasoline (/RB) longs made $15,000 this morning and yesterday, my pre-market comment was:

What I can tell you is that, generally, a strong Dollar puts negative pressure on commodities, as well as the indexes so, if the Dollar were to pull back off the 100 line (and a weak retrace takes it to 99 which a strong one will test 98 without breaking the still-bullish uptrend), then that will boost Gold (GLD), Silver (SLV), Oil (USO), Gasoline (UGA) and Natural Gas (UNG) – all of which look like good long-term pokes here at $116.50, $16.35, $9.75, $24.50 and $7.05 respectively.  Of course we have really cool options plays to leverage them but, again, we have to save some things for our Members or it's no fun!

If you missed the post (and you wouldn't if you subscribed) you might have caught me over at the Nasdaq at 10am, where we reiterated our short call on the indexes (and they were still over our lines at the open) as well as our bottom call on Oil (/CL), Gasoline (/RB) and Coffee (/KC).  

We're still a long way from getting even on our Gasoline (UGA) trade, as we entered too early on /RB and need to be over $1.37 to begin netting a profit but we have faith that Thanksgiving weekend (next Thursday) will give us the boost that we're looking for.  Oil (USO) still has to get past the contract rollover on Friday but, after that, we should see some quick upside action.

Meanwhile, those Futures shorts we gave you (also in the morning post) made a $625 per contract profit at Dow (/YM) 18,775, $750 per contract at S&P (/ES) 2,155, $1,600 per contract at Nasdaq (/NQ) 4,680, $800 per contact at Russell (/TF) 1,282 and $500 per contract at Nikkei (/NKD) 17,600 and, best of…
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