MarketBook 3/20/08

You probably thought I was crazy when I said I was shorting oil.  Well, today I sold DUG, the ProShares Energy Ultra Short ETF, for a nice little 7% profit.  I also went ahead and cashed in on some of the options puts that I had on energy ETF’s.  Perhaps it wasn’t as big as it could have been and I do still believe that oil will have a significant drop in the summer and then rocket up, but I took advantage of this while I had the chance. 

Nothing else of significance today, except that options expire tomorrow.  I already sold most of my positions that were very profitable and will pass on a couple of others (unless they make significant turns today). 

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