I put my money where my mouth is...........

FriendlyHammer wrote: Superglide Ken wrote: The developing Depression has caused the price to over-correct. It is now forming a new bottom before resuming it's climb to back above $100 in Nov this year.

You still don't get it. Even when my timing is off I still make money. If I want to go long I buy 2/3 of my options as call options, and 1/3 of my options as put options. Because of the leverage I have if the price goes up I make lots of money. If the price goes down I make money on the put options and sell the call options. So I still make money. This is called using a Butterfly Straddle. It works very well as long as the commodity is moving either up or down. The only way I can lose on my options on oil is if it does nothing.I really don't care which way it goes as long as it moves!