I opened a position in DUG just before the close on friday because of the probable double bottom on very heavy volume.  There is no obvious reason for oil and/or gas to go down except that nothing goes to the moon in a straight line.

uh 

This article at Bloombergs indicates that options traders are becoming bullish on the usd.  A stronger dollar should help to level off the price of oil.

http://bloomberg.com/apps/news?p&s&refer=home

uh

Interesting thread. I actually went in a week and a half ago. I am down about 4% so far. Dumb question, if they are short how do they pay a dividend ?

 The problem is that bubbles tend to keep going for awhile before they bust so it takes guts to stick it out.

Guts and a tight stop.

  I have not looked at the internal portfolio of DUG, but I assume the dividend comes from the interest on the collateral they put up for the short sales.

uh

The dividend was figured from last years payouts per my Active Trader Pro screen . So it may not represent future payouts. I personally do not use stops, and I value cost average in at 25 shares per buy. Now they are predicting $200.00 per barrel. Fine w/ me bring it on.  Best regards,  Don   *** P.S at $150 or higher I may start buying 50 shares at a time. Obviously, this is not a short term position or play.

On a related question, I put in a market order for a stock today but did not put in any kind of stop loss order.  In hindsight, I think I might want one.  How do you go about doing this after the fact at Fidelity borkerage (I obviously don't buy stocks alot).

Thanks, Dan

Go to www.fidelity.com  and click on contacts, then ask your questions in an e-mail and they will tell you how.

In an effort to drive down the prices of oil & gas Congressman Steve Buyer said he will submit a bill TODAY in the house to allow drilling and exploration on all federal land to begin immediately. With that knowledge, I broke my regular investment rules and bought another 25 shrs. this AM. Best regards, Don

Well, I am not buying any more but will do my best to stick with it. I am down 7.5% in two weeks and that usually calls for a stop limit to prevent a big loss.

I am still holding my DUG until the MACD tells me to sell.

chili