Keith Richards iPath S&P GSCI Crude Oil OIL-N SELL May 11, 2009

This is a play on crude oil commodity rather than companies. The chart shows that oil has broken out of a base and a good possibility of oil getting into the $60 area. We are so close to this that he would take profits now. If oil were to pull back to $45 he would look at getting back in.

Keith Richards

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TOP PICK

S&P GSCI Crude Oil ETN. Tracks the spot price. Oil is not in its seasonally strong spot right now but from a technical perspective, the chart looks like good for a short-term play. Broke up in October and has a neckline at around $22.

PAST TOP PICK

(Top Pick Nov 9/11, Up 7.04%) Not in his new top picks but he still likes it. It is to be seen if it will break the resistance level of $28 and if it does not he will sell it.

COMMENT

Does this track the price of oil accurately? This ETF does not track it well, because oil is based upon West Texas crude and its long term one-year contract. That eliminates the whole issue of contango. It does track the spot price, but you have contango issues.

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Keith Richards iPath S&P GSCI Crude Oil OIL-N SELL May 11, 2009

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