Opinions
Chris Smith
HBP NYMEX Oil Bull+ ETF
HOU-T
COMMENT
Jan 12, 2009
A levered play on oil giving you a lot of torque. Thinks oil is going higher. If there is any recovery, energy is going to be the one thing that is required.
$9.000
Stock price when the opinion was issued
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Levered at 2x, hedged to the CAD, holds futures contracts but not shares of oil producers.
If you want to speculate on oil, is this a good vehicle? Very, very risky.
One good thing about being in the stock market is that if you don't get it right, right away, over the long term you tend to get bailed out. Products like this have serious tracking errors. You have to be very careful. Only for very short term. He wouldn't use it. The oil price is manipulated.
Lots of oil stocks are pretty cheap, pay nice dividends, have good shareholder returns. That's what he'd do. It's more boring, but less risky.
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